DiamondPeak OKs Lordstown Motors merger; RIDE to appear on Nasdaq

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The merger is expected to close on October 23, 2020, subject to closing conditions

Over a year since General Motors announced it would stop production at its Lordstown plant, a new sign is taking the place where the GM Lordstown complex sign once stood.

(WKBN) – DiamondPeak Holdings Corp. announced Thursday that DiamondPeak stockholders approved a merger with Lordstown Motors.

The vote was held during a special meeting of stockholders.

The merger is expected to close on October 23, 2020, subject to closing conditions.

On October 26, the combined company’s Common Stock and Warrants are expected to start trading on the Nasdaq Global Select Market under the new ticker symbols “RIDE” and “RIDEW,” respectively.

Since the unveiling of the Endurance, Lordstown Motors has secured $1.4 billion in preorders.

The company is hoping to at least break even by 2022.

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