Electric Truck Maker Lordstown Motors Corp. Registers Over 150 Million Shares

Lordstown Motors Corp. (NASDAQ: RIDE) has filed paperwork with the SEC that registers up to 143,666,024 of class of class A common stock. In this paperwork, Lordstown Motors Corp. also registered up to 14.4 million shares of class A common stock that are issuable upon the exercise of warrants as well as registering up to 5,066,667 warrants. Lordstown Motors Corp. warrants trade on the NASDAQ under the ticker symbol RIDEW. Furthermore each warrant has an exercise price of $11.50. The proposed maximum aggregate price offering for this deal is just over $2,582,629,146. This is figured by the price of $16.88 per share, which is the average of their high and low prices of their class A common stock on November 10, 2020.

Use of Proceeds

All proceeds from the sale of class A common stock a...

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