Brief: Lordstown Motors Corp Announces Reverse Stock Split

Nu Ride

23/05/2023 12:29

May 23 (Reuters) - Lordstown Motors Corp  RIDE.O :
    * LORDSTOWN MOTORS CORP. ANNOUNCES REVERSE STOCK SPLIT
    * LORDSTOWN MOTORS CORP. ANNOUNCES REVERSE STOCK SPLIT
    * LORDSTOWN MOTORS CORP - ANNOUNCED THAT IT WILL EFFECT A
1:15
REVERSE STOCK SPLIT
    * LORDSTOWN MOTORS CORP - COMMON STOCK WILL BEGIN TRADING ON
SPLIT-ADJUSTED BASIS ON NASDAQ UNDER ITS EXISTING SYMBOL WHEN
MARKET OPENS ON MAY 24
    * LORDSTOWN MOTORS CORP - AS OF APRIL 30, 2023, CO HAD CASH,
CASH
EQUIVALENTS AND SHORT-TERM INVESTMENTS OF ABOUT $165 MILLION
    * LORDSTOWN MOTORS CORP - WILL EFFECT A 1:15 REVERSE STOCK
SPLIT
OF ITS CLASS A COMMON STOCK, $0.0001 PAR VALUE PER SHARE
    * LORDSTOWN MOTORS CORP - COMPANY WAS READY, WILLING AND
ABLE TO
CLOSE TRANSACTION WITH FOXCONN ON MAY 8
    * LORDSTOWN MOTORS CORP - FOXCONN TOOK A CONTRARY POSITION
AND
REFUSED TO CLOSE
    * LORDSTOWN MOTORS CORP - CO REMAINS WILLING TO NEGOTIATE
WITH
FOXCONN IN AN EFFORT TO RESOLVE ITS DISPUTES
    * LORDSTOWN MOTORS CORP - COMPANY HAS TAKEN AGGRESSIVE
ACTIONS TO
REDUCE COSTS AND PRESERVE LIQUIDITY
    * LORDSTOWN MOTORS CORP - AS OF APRIL 30, 2023, COMPANY HAD
CASH,
CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS OF APPROXIMATELY
$165 MILLION

Source text for Eikon:  ID:nGNX2HGzwY 
Further company coverage:  RIDE.O 

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