Current Report Filing (8-k)
August 11 2022 - 04:36PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR
15(d) OF THE
SECURITIES EXCHANGE ACT OF
1934
Date of Report (Date of earliest event reported): August 10, 2022
LORDSTOWN MOTORS CORP.
(Exact name of registrant as specified in its charter)
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Delaware
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001-38821
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83-2533239
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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2300 Hallock Young Road
Lordstown, Ohio
44481
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (234)
285-4001
N/A
(Former name or former address,
if changed since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
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☐
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which
registered
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Class A common stock, par value $0.0001 per share
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RIDE
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new or revised
financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. ☐
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Item 3.02
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Results of Operations and Financial
Condition
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On August 10, 2022, pursuant to the previously disclosed Equity
Purchase Agreement (the “Equity Purchase Agreement”) dated July 23,
2021 between Lordstown Motors Corp. (the “Company”) and YA II PN,
LTD. (“YA”), the Company sold 9,199,265 shares of its Class A
common stock to YA for approximately $2.5002 per share, or $23.0
million in total consideration. The proceeds will be used by the
Company to fund production of its flagship vehicle, the Endurance,
a full-size, all-electric pickup truck. The Company may cause YA to
purchase additional shares under the Equity Purchase Agreement from
time to time, subject to the satisfaction or waiver of the
conditions and limitations set forth in the Equity Purchase
Agreement.
The shares were issued and sold to an accredited investor in
reliance upon the exemption from the registration requirements of
the Securities Act of 1933 afforded by Section 4(a)(2) of the
Securities Act of 1933.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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LORDSTOWN MOTORS
CORP.
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By:
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/s/ Adam Kroll
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Name:
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Adam
Kroll
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Title:
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Chief Financial
Officer
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Date: August 11, 2022
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