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Cash-Strapped Lordstown Motors Raises $400M Through Private Placement

Cash-Strapped Lordstown Motors Raises $400M Through Private Placement

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Lordstown Motors Corp. (NYSE: RIDE), which issued a going concern warning in June, has managed to secure financing. What Happened: Electric pickup truck developer Lordstown revealed in a filing Monday it has entered into an equity purchase agreement with YA II PN Ltd, pursuant to which the latter has agreed to purchase up to $400 million in Class A common stock.

...read full article on Benzinga

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