Stockholders to vote on merger with Lordstown Motors expected to bring $675 million for company

LORDSTOWN, Ohio (WKBN) – There will be a meeting Thursday to vote on a proposed merger with Lordstown Motors that would make it a publicly listed company and bring hundreds of millions of dollars in investments.

DiamondPeak Holdings stockholders will meet virtually to close on the merger. It’s expected to bring $675 million to Lordstown Motors for production of its Endurance pickup truck.

The merger was first announced in August.

DiamondPeak Holdings is a company that merges with other companies so they can go public.

Lordstown Motors will go public on the NASDAQ stock exchange as a result of this merger under the ticker symbol “RIDE.”

Lordstown Motors’ Endurance is the first full-size electric pickup truck designed for commercial fleet vehicles. Production is expected to start in the second half of 2021.