Appoints Daniel Ninivaggi as Chairman of the Board LORDSTOWN, Ohio, May 19, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors"), an original equipment manufacturer (OEM) of electric light duty trucks focused on the commercial fleet market, announced today that at its annual meeting of stockholders, Joseph B. Anderson, Jr., Laura J. Soave and Angela Strand were elected as independent directors.  Mr. Anderson and Ms. Soave are new directors, and each has extensive experience in the global automotive industry.  Incumbent director Ms. Strand is joining the Compensation Committee, Mr. Anderson will serve as a member of the Audit Committee and Ms. Soave will serve on th

Appoints Becky Roof as Interim Chief Financial Officer (CFO) and Engages AlixPartners to Accelerate Implementation of Special Committee Recommendations Faraday Future Intelligent Electric Inc. ("FF") (NASDAQ:FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced the appointment of Becky Roof as interim Chief Financial Officer, and the engagement of AlixPartners, LLP. Effective immediately, Ms. Roof will replace Walter J. ("Chuck") McBride, who has stepped down from his position for health reasons. Sue Swenson, Executive Chairperson of Faraday Future, said, "As we push to accelerate our remediation plan and strengthen the Company's financ

LORDSTOWN, Ohio, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. ("Lordstown Motors" or "LMC") (NASDAQ:RIDE) announced today that its Board of Directors has elected Melissa Leonard as Executive Vice President, effective January 1, 2022. Ms. Leonard will replace Tom Canepa, LMC's current General Counsel & Secretary, who is leaving to pursue other opportunities. Ms. Leonard was co-leader of the Mergers and Acquisitions team for Baker & Hostetler LLP, where she has served as outside counsel to the Company since 2019. Ms. Leonard has been a corporate and transactional attorney at Baker & Hostetler LLP since 1995 and has extensive legal experience with mergers and acquisitions, financ

LORDSTOWN, Ohio, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. ("Lordstown Motors" or "LMC") (NASDAQ:RIDE) announced today that its Board of Directors has elected Adam B. Kroll as Executive Vice President and Chief Financial Officer, effective October 25th, 2021. Mr. Kroll will replace Rebecca Roof, Interim Chief Financial Officer who will remain with the company in a transition role through December 31, 2021. Mr. Kroll brings to Lordstown Motors nearly twenty-five years of financial, operational and capital markets experience. He previously served as an investment banker at JP Morgan focused on the automotive industry where, during his tenure, he advised companies on over $125

LORDSTOWN, Ohio, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Lordstown Motors Corporation (NASDAQ:RIDE), ("Lordstown Motors"), a leader in electric light-duty trucks focused on the commercial fleet market, announced today that its Board of Directors has appointed Daniel A. Ninivaggi as CEO and as a member of the Board, effective immediately. Ninivaggi is the former CEO of Icahn Enterprises L.P. (NASDAQ:IEP), a diversified holding company controlled by Carl C. Icahn, and has served in a variety of senior leadership positions in the automotive and transportation industries. He began his automotive career at Lear Corporation, ultimately serving as Executive Vice President, where he was responsible

LORDSTOWN, Ohio, March 06, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, today released its fourth quarter and fiscal year 2022 financial results and provided a business update. Fourth Quarter and Recent Business Highlights Foxconn Investment of up to $170 million, subject to certain conditions; initial $52 million fundedProgressed pre-development work on the new program in collaboration with Foxconn EV EcosystemStart of commercial sales of the EnduranceTM, an electric full-size pickup truckSupplier quality and performance issues have limited production and

LORDSTOWN, Ohio, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors," "LMC" or the "Company"), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its fiscal year 2022 financial results before market open on Monday, March 6, 2023. The Company will then host a conference call at 8:30 a.m. Eastern Time. Lordstown Motors Corp. also announced today that it has experienced performance and quality issues with certain Endurance components that have led the company to temporarily stop production and customer deliveries since our last production update in January. The te

LORDSTOWN, Ohio, Oct. 14, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors"), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its third quarter 2022 financial results before market open on Tuesday, November 8, 2022. The company will then host a conference call at 8:30 a.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors' Investor Relations website at https://investor.lordstownmotors.com/. An archive

LORDSTOWN, Ohio, Aug. 4, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or "LMC"), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, today released its second quarter 2022 financial results and provided a business update. Second Quarter and Recent Business Highlights Ending cash balance of $236 million is above internal expectations and extends our runway, due in part to disciplined expense controls and rigorous program managementClosed Asset Purchase Agreement with Foxconn ("APA")

LORDSTOWN, Ohio, July 21, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors"), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its second quarter 2022 financial results before market open on Thursday, August 4, 2022. The company will then host a conference call at 8:30 a.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors' Investor Relations website at https://investor.lordstownmotors.com/. An archive

LORDSTOWN, Ohio, May 9, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or "LMC"), an original equipment manufacturer (OEM) of electric light duty trucks focused on the commercial fleet market, today released its first quarter 2022 financial results and provided a business update. First Quarter and Recent Key Business Highlights Ending cash balance of $204 million; in excess of $300 million pro forma for Foxconn transactionTotal operating expenses of $87.9 million 3.8% higher than 4Q21, but down 11.5%, 20.4% and 17.3% versus 3Q21, 2Q21 and 1Q21,

LORDSTOWN, Ohio, April 29, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE) ("Lordstown Motors"), a developer of electric light-duty trucks focused on the commercial fleet market, today announced that it will release its first quarter financial results before market open on May 9, 2022. The company will then host a conference call at 8:30 a.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors' Investor Relations website at https://investor.lordstownmotors.com/.  An archive of the webcast will be available short

LORDSTOWN, Ohio, Feb. 28, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or "LMC"), a provider of electric light duty trucks focused on the commercial fleet market, today released its fourth quarter and fiscal year 2021 financial results and provided a business update. Fourth Quarter and Recent Key Business Highlights Ended 2021 with a cash balance of $244 million, $79 million above the midpoint of the previously issued outlook on disciplined spending, favorable working capital, additional equity issuances and a deferral of certain investmen

LORDSTOWN, Ohio, Feb. 15, 2022 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors"), a developer of electric light-duty trucks focused on the commercial fleet market, today announced that it will release its fourth quarter and full year 2021 financial results before market open on February 28, 2022. The company will then host a conference call at 8:30 a.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors' Investor Relations website at https://investor.lordstownmotors.com/. An archive of the webca

LORDSTOWN, Ohio, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or "LMC"), a provider of electric light duty trucks focused on the commercial fleet market, today released its third quarter 2021 financial results, and provided a business and financial outlook update. Third Quarter and Recent Key Business Highlights Reported third quarter 2021 net loss of $95.8 million, capex of $79.9 million and cash of $233.8 million on September 30, 2021.Executed an asset purchase agreement with an affiliate of Hon Hai Precision Industry ("Foxconn") that will culminate in the transfer of the Lordstown plant to Foxconn, and a plan to establish a contract manuf

Gainers Mullen Automotive (NASDAQ:MULN) stock increased by 59.4% to $0.16 during Wednesday's regular session. As of 13:37 EST, this security is trading at a volume of 803.6 million shares, making up 907.4% of its average full-day volume over the last 100 days. The company's market cap stands at $39.1 million. Cenntro Electric Gr (NASDAQ:CENN) shares increased by 21.15% to $0.39. Trading volume for this security as of 13:37 EST is 7.7 million, which is 333.4% of its average full-day volume over the last 100 days. The company's market cap stands at $118.4 million. Foresight Autonomous (NASDAQ:FRSX) shares rose 15.72% to $2.65. Foresight Autonomous's stock is trading at a volume of 53.4K sha

Nikola Corp (NASDAQ:NKLA) stock is trading lower Wednesday after reports indicated its plans to liquidate the assets of battery maker Romeo Power less than a year after buying it. The electric truck maker struggled to satisfy investors amid overblown costs of commodities and tight access to capital since 2022, Reuters reports. Nikola, in August, agreed to buy Romeo Power for about $144 million in stock. Romeo Power is one of the battery suppliers for Nikola, along with LG Energy Solution  and Proterra Inc (NASDAQ:PTRA) Nikola's struggles mirror those at many other EV startups. British EV van maker Arrival (NASDAQ:ARVL) shared plans to terminate its merger with a blank-check firm, while L

Gainers Barnes & Noble Education (NYSE:BNED) shares rose 27.8% to $1.61 during Tuesday's regular session. As of 13:37 EST, this security is trading at a volume of 2.0 million shares, making up 756.8% of its average full-day volume over the last 100 days. The company's market cap stands at $84.6 million. Singing Machine Co (NASDAQ:MICS) shares moved upwards by 18.69% to $1.58. Trading volume for this security as of 13:37 EST is 218.4K, which is 24.2% of its average full-day volume over the last 100 days. The company's market cap stands at $4.9 million. Rivian Automotive (NASDAQ:RIVN) shares increased by 17.79% to $19.62. Trading volume for this security as of 13:37 EST is 76.3 million, whi

Gainers Barnes & Noble Education (NYSE:BNED) shares rose 27.8% to $1.61 during Monday's regular session. As of 13:37 EST, this security is trading at a volume of 2.0 million shares, making up 756.8% of its average full-day volume over the last 100 days. The company's market cap stands at $84.6 million. Singing Machine Co (NASDAQ:MICS) shares increased by 18.69% to $1.58. Trading volume for Singing Machine Co's stock is 218.4K as of 13:37 EST. This is 24.2% of its average full-day volume over the last 100 days. The company's market cap stands at $4.9 million. Rivian Automotive (NASDAQ:RIVN) stock moved upwards by 17.79% to $19.62. As of 13:37 EST, this security is trading at a volume of 76

The broader market momentum lifted most electric vehicle stocks higher this week, although some company-specific developments weighed down on some stocks. Market leader Tesla, Inc. (NASDAQ:TSLA) rebounded from the previous week, as traders began pricing in a solid second-quarter deliveries report. Here are the key events that happened in the EV space during the week: Tesla Charging Standard Adoption Swells, Cybertruck Updates And More: Swedish luxury automaker Volvo Cars, owned by Geely Automobile Holdings Limited (OTC:GELYF), and its subsidiary Polestar Automotive Holding UK Plc (NASDAQ:PSNY), announced this week that they would adopt Tesla's proprietary North American Charging Standa

New York Post FTC Chair Lina Khan's Impact? Amazon Hires Dozens of Former FTC Officials Amazon.Com Inc (NASDAQ:AMZN) is poaching several staffers from the Federal Trade Commission as it gears up for an antitrust battle with the regulator. The firm battling charges of strong-arming third-party sellers into using its logistics network – has already hired around a dozen former FTC officials. Insiders say FTC Chair Lina Khan made Amazon's hiring spree much easier.   Reuters Volkswagen May Join Other Players - It's In Talks with Tesla to Adopt North American Charging Standard Volkswagen AG (OTC:VWAGY) is in discussion with Tesla, Inc (NASDAQ:TSLA) to leverage its North American Charg

Lordstown Motors Corp (NASDAQ:RIDE) stock is trading lower Friday since it got delisting notice from Nasdaq after it filed for bankruptcy protection. Lordstown Motors filed for Chapter 11 bankruptcy after its rescue deal with Hon Hai Precision Industry Co Ltd (OTC: HNHPF) Foxconn failed. The deal involved Foxconn injecting cash and taking over production for Lordstown Motors. As part of the deal, Foxconn was supposed to buy a tenth of Lordstown's equity at $1.76 per share. Lordstown executed a reverse 1-for-15 stock split to avoid delisting from Nasdaq. Foxconn claimed that the reverse stock split entitled them to purchase 62.7% of Lordstown's common stock, Financial Times reports. Lor

Lordstown Motors Corp (NASDAQ:RIDE) said on Thursday that it received a delisting notice from Nasdaq. What Happened: The company received the written notice from Nasdaq on Wednesday after it filed for bankruptcy protection on Tuesday. “Nasdaq had determined that the Company's Class A common stock, par value $0.0001 per share, will be delisted from the Nasdaq Global Select Market,” the company said in a filing. It added that it does not intend to appeal the decision. Trading of Lordstown’s class A common stock will be suspended starting July 7. Why It Matters: Lordstown filed for bankruptcy protection on Tuesday following a drawn out dispute with Foxconn over a proposed invest

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk issued a warning a year ago that Lucid Group, Inc. (NASDAQ:LCID) and Rivian Automotive, Inc. (NASDAQ:RIVN) could face the risk of bankruptcy if they don’t make necessary changes. Tuesday’s Chapter 11 filing by Lordstown, Inc. (NASDAQ:RIDE) has reignited discussions about the challenges faced by new electric vehicle startups in a difficult environment. What Happened: Future Fund‘s Gary Black expressed concerns that Lucid will continue to struggle in selling its $100,000 EV sedans. In the first quarter, the company delivered 1,406 units and aims to deliver 10,000 units in 2023.  "Many buyers worry if LCID will even be around in a few years," Bla

Ed Hightower, CEO at Lordstown Motors Corp. (NASDAQ:RIDE), embarked on a trip to Taiwan for a meeting with Foxtron, an affiliate of Foxconn Technology Group, to discuss the development of a new electric vehicle. However, the Foxtron CEO failed to show up, marking the beginning of a series of complications, Bloomberg reports. A Fruitless Trip Despite spending three days in isolation due to Covid-19 protocols, Hightower was unable to secure the necessary engineering drawings, data, and licensing agreements from Foxtron to kickstart the project. After nearly two weeks, Hightower returned home, unsuccessful in his mission. Bankruptcy and Lawsuit Lordstown Motors filed for bankruptcy

WILMINGTON, Del., April 5, 2024 /PRNewswire/ -- Labaton Keller Sucharow LLP announce that the United States Bankruptcy Court for the District of Delaware has approved the following announcement of a proposed settlement that would benefit purchasers of Lordstown Motors Corp. (NASDAQ:RIDE) (NASDAQ:RIDEW): SUMMARY NOTICE OF CERTIFICATION OF SETTLEMENT CLASS AND PROPOSED SETTLEMENT If you purchased the publicly traded securities of Lordstown Motors Corp. ("LMC") during the period from August 3, 2020 through July 2, 2021, and/or held LMC's publicly traded Class A Common Stock on September 21, 2020, and were damaged thereby, you may be entitled to a payment from a settlement. YOU ARE HEREBY NOTIF

Enables uninterrupted continuation of business operations and commitments to stakeholders  LORDSTOWN, Ohio, June 28, 2023 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown" or the "Company"), today announced that the United States Bankruptcy Court for the District of Delaware (the "Court") entered orders (or indicated it would enter orders) granting approval, on an interim or final basis (as applicable to the requested relief), of all of the Company's "first day" motions filed in its chapter 11 cases (the "Chapter 11 Cases") on June 27, 2023 (the "Petition Date"). 

Files Complaint Against Foxconn that Details Fraud, Bad Faith and Repeated Contractual Breaches Leading to Value Destruction Commences Comprehensive Sale Process for Endurance Truck and Related EV Assets Files Chapter 11 to Implement Restructuring in Efficient Manner Company is Debt-Free and Continues to Operate with Significant Cash-on-Hand LORDSTOWN, Ohio, June 27, 2023 /PRNewswire/ -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown" or the "Company"), an original equipment manufacturer (OEM) of electric light-duty vehicles focused on the commercial fleet market, today announced a strategic restructuring process to maximize the value of its assets: its on-the-road Endurance all-electric

LORDSTOWN, Ohio, May 23, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors," "LMC" or the "Company"), an original equipment manufacturer ("OEM") of electric vehicles focused on the commercial fleet market, today announced that it will effect a 1:15 reverse stock split (the "Reverse Stock Split") of its Class A common stock, $0.0001 par value per share (the "Class A common stock"), that will become effective at 12:01 a.m. Eastern Time on May 24, 2023 (the "Effective Time"). Lordstown Motors' Class A common stock will begin trading on a split-adjusted basis on the Nasdaq Global Select Market ("Nasdaq"), under its existing symbol, "RIDE", when the market opens

LORDSTOWN, Ohio, April 18, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or the "Company"), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, and Amerit Fleet Solutions ("Amerit"), a provider of customized fleet maintenance and repair programs nationwide, announced today that it has entered into an agreement for Amerit to provide service and maintenance to Lordstown's commercial fleet customers. The Lordstown Endurance™ began commercial production at the Foxconn EV Ohio assembly plant in Q3 2022. Sales started in Q4 2022. Production and deliveries resumed in April 2023 after a pause earli

LORDSTOWN, Ohio, March 08, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), an original equipment manufacturer of electric light duty vehicles focused on the commercial fleet market, will be in Booth #6009 at the March 7-10 Work Truck Week in Indianapolis. The EV innovator is bringing the Lordstown Endurance™ full size all-electric pickup onsite at the Work Truck Week show at the Indiana Convention Center. The Lordstown Endurance™ began commercial production at the Foxconn EV Ohio assembly plant in Q3 2022 with initial sales in Q4 2022. In addition to the Lordstown Motors Corp. booth #6009, the Endurance™ will also be displayed in two additional areas: Booth #801 with JB Po

LORDSTOWN, Ohio, March 06, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, today released its fourth quarter and fiscal year 2022 financial results and provided a business update. Fourth Quarter and Recent Business Highlights Foxconn Investment of up to $170 million, subject to certain conditions; initial $52 million fundedProgressed pre-development work on the new program in collaboration with Foxconn EV EcosystemStart of commercial sales of the EnduranceTM, an electric full-size pickup truckSupplier quality and performance issues have limited production and

LORDSTOWN, Ohio, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors," "LMC" or the "Company"), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its fiscal year 2022 financial results before market open on Monday, March 6, 2023. The Company will then host a conference call at 8:30 a.m. Eastern Time. Lordstown Motors Corp. also announced today that it has experienced performance and quality issues with certain Endurance components that have led the company to temporarily stop production and customer deliveries since our last production update in January. The te

LORDSTOWN, Ohio, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or the "Company"), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, today announced that the Lordstown Endurance™ full-size battery-electric pickup truck will be at CES in the Mobility in Harmony (MIH) Consortium Booth in the West Hall Booth 5274. The light-duty truck, a finalist for the North American Truck of the Year competition, began commercial production at the Foxconn EV Ohio assembly plant in Q3. Sales started earlier this quarter. "We are very excited to display our recently launched Endurance™ full-siz

LORDSTOWN, Ohio, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (NASDAQ:RIDE), ("Lordstown Motors" or the "Company"), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, today announced: Lordstown EnduranceTM full-size battery-electric pickup truck has achieved full homologation, a key condition to start salesEPA and CARB certification has been receivedFMVSS crash and non-crash testing successfully completedFirst customer vehicles leaving the Foxconn EV Ohio plant for deliveryEnduranceTM advanced to finalist in the North American Truck of the Year competition Executive Commentary Lordstown Motors is pleased to anno

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8-K - Lordstown Motors Corp. (0001759546) (Filer)