Lordstown Motors to go public, trade on Nasdaq

by admin August 5, 2020 at 8:15 am

Lordstown Motors is the latest EV startup in recent months to announce plans to go public.

The Ohio company will follow in the footsteps of fellow EV startups Nikola and Fisker by merging with a special purpose acquisition company whose shares are already publicly traded, in this case DiamondPeak Holdings Corp. which is listed on Nasdaq.

The deal is expected to close in the fourth quarter of 2020 upon which the merged company will retain the Lordstown name and list on Nasdaq under the ticker symbol “RIDE.”