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RIDE - Lordstown Motors News Story

$7.43 0.6  8.6%

Last Trade - 23/09/21

Consumer Cyclicals
Mid Cap
Market Cap £958.7m
Enterprise Value £691.9m
Revenue £n/a
Position in Universe 2710th / 7170

BUZZ-Lordstown Motors rises on $400 mln equity investment deal

Mon 26th July, 2021 5:10pm
** Shares of electric truck maker  RIDE.O  rise 2% to $7.63 
    ** Co says hedge fund YA II PN Ltd has committed to purchase
up to $400 mln of the company's shares, over a three-year period
    ** This comes at a time when RIDE is under regulatory
scrutiny related to its SPAC merger and vehicle pre-orders
    ** YA can receive nearly 35 mln Lordstown shares upon
execution of the agreement, subject to Lordstown shareholders'
approval, as well as a small discount on the shares whenever
purchased, according to a regulatory filing(https://bit.ly/3zxbHTS)
    ** Up to Friday's close, stock was down ~63% YTD

 (Reporting by Chavi Mehta in Bengaluru)
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