Lordstown Motors Corp. And DiamondPeak Holdings Corp. Announce Closing Of Business Combination; Lord
Lordstown Motors Corp. And DiamondPeak Holdings Corp. Announce Closing Of Business Combination; Lord
LORDSTOWN, Ohio and NEW YORK, Oct. 23, 2020 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. ("Lordstown Motors"), a leader in electric light duty trucks focused on the commercial fleet market, announced today that it has completed its business combination ("Business Combination") with DiamondPeak Holdings Corp. ("DiamondPeak") (NASDAQ:DPHC), a special purpose acquisition company. The Business Combination was approved by DPHC stockholders in a special meeting held on October 22, 2020. Beginning on October 26, 2020, Lordstown Motors' Class A shares will trade on the Nasdaq Global Select market under the ticker symbol "RIDE" and its warrants will trade on Nasdaq under the ticker symbol "RIDEW".
俄亥俄州洛德斯敦和纽约,2020年10月23日(环球通讯社)-专注于商用车队市场的电动轻型卡车领先者洛德斯敦汽车公司(Lordstown Motors Corp.)今天宣布,它已经完成了与DiamondPeak Holdings Corp.(DiamondPeak)(纳斯达克:DPHC),一家特殊目的收购公司。DPHC股东在2020年10月22日举行的特别会议上批准了这项业务合并。从2020年10月26日开始,Lordstown Motors的A类股票将在纳斯达克全球精选市场交易,股票代码为“RIDE”,其权证将在纳斯达克交易,股票代码为“RIDEW”。
"We are proud of this momentous occasion. Electrification of the automotive industry is at an inflection point, and this transaction helps us play our part in this transformation," commented Steve Burns, Founder and Chief Executive Officer of Lordstown Motors. "At Lordstown, we have built a differentiated company, and we look forward to combining our EV startup culture with the infrastructure and assets we already have in place in order to successfully achieve our production milestones."
Lordstown Motors创始人兼首席执行官史蒂夫·伯恩斯(Steve Burns)评论说:“我们为这一重大时刻感到自豪。汽车业的电气化正处于转折点,这笔交易帮助我们在这一转型中发挥了我们的作用,”Lordstown Motors的创始人兼首席执行官史蒂夫·伯恩斯(Steve Burns)评论道。在洛德斯敦,我们建立了一家与众不同的公司,我们期待着将我们的电动汽车创业文化与我们已经到位的基础设施和资产结合起来,以成功实现我们的生产里程碑。“
Lordstown Motors, which unveiled the prototype of its flagship Endurance pickup truck in June 2020, remains on pace to commence commercial production in the second half of 2021 at its plant in Lordstown, Ohio. The Endurance's revolutionary use of an in-wheel hub motor design is expected to deliver superior performance, efficiency, and safety, while providing a significant reduction in total cost of ownership for commercial fleet owners. "We have a near production-ready plant and approximately $675 million in proceeds from this transaction, which is more than enough funding to get us through initial production," continued Steve Burns.
洛德斯敦汽车公司(Lordstown Motors)于2020年6月推出了其旗舰耐力皮卡的原型,该公司仍在按计划于2021年下半年在其位于俄亥俄州洛德斯敦的工厂开始商业生产。耐力革命性地采用轮毂电机设计,预计将提供卓越的性能、效率和安全性,同时大幅降低商用车队所有者的总拥有成本。史蒂夫·伯恩斯继续说:“我们有一个接近投产的工厂,这笔交易的收益约为6.75亿美元,这笔资金足以让我们度过最初的生产阶段。”
"We are thrilled about the successful execution of this merger, which included a PIPE that is backed by General Motors and several long-term institutional investors, and we congratulate Lordstown on achieving this key milestone," commented David Hamamoto, Chairman and Chief Executive Officer of DiamondPeak. "We look forward to our long-term partnership with Steve and the entire Lordstown team as they progress towards being first to market with an electric pickup truck for commercial fleets."
DiamondPeak公司董事长兼首席执行官David Hamamoto评论说:“我们对这项合并的成功执行感到兴奋,其中包括一条得到通用汽车公司和几家长期机构投资者支持的管道。我们祝贺洛德斯敦公司实现这一关键里程碑。”我们期待着与史蒂夫和整个Lordstown团队建立长期的合作伙伴关系,因为他们正在向市场迈进,为商业车队提供电动皮卡。“
"GM is excited about the progress Lordstown Motors is making because we believe they will help create more good-paying jobs in Ohio and especially in the Lordstown community," said General Motors.
通用汽车表示:“通用汽车对Lordstown Motors正在取得的进展感到兴奋,因为我们相信,它们将有助于在俄亥俄州创造更多高薪就业机会,尤其是在Lordstown社区。”
Goldman Sachs served as exclusive financial advisor and Sullivan & Cromwell LLP served as legal advisor to DiamondPeak. Goldman Sachs served as exclusive placement agent on the PIPE offering. Deutsche Bank served as additional capital markets advisor to DiamondPeak. BakerHostetler served as legal advisor to Lordstown Motors.
高盛担任DiamondPeak的独家财务顾问,Sullivan&Cromwell LLP担任法律顾问。高盛(Goldman Sachs)担任此次管道发行的独家配售代理。德意志银行(Deutsche Bank)担任DiamondPeak的额外资本市场顾问。BakerHostetler曾担任Lordstown Motors的法律顾问。
About Lordstown Motors Corp.
Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio's Mahoning Valley and Lordstown, Ohio, into the epicenter of electric-vehicle manufacturing. The company owns the 785 acre, 6.2 million square foot Lordstown Assembly Plant where it plans to build the Lordstown Endurance, believed to be the world's first fully-electric pickup truck designed to serve the commercial fleet market. For additional information visit www.lordstownmotors.com.
关于洛德斯敦汽车公司(Lordstown Motors Corp.)
Lordstown Motors Corp.是一家总部位于俄亥俄州的轻型车队原始设备制造商,由首席执行官史蒂夫·伯恩斯(Steve Burns)创立,目的是将俄亥俄州的马霍宁山谷(Mahoning Valley)和俄亥俄州的洛德斯敦(Lordstown)转变为电动汽车制造的中心。该公司拥有占地785英亩、占地620万平方英尺的Lordstown组装厂,计划在那里建造Lordstown Enendance,据信这是世界上第一款专为商业车队市场设计的全电动皮卡。有关更多信息,请访问Www.lordstownmotors.com.
Forward Looking Statements
This press release includes forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: our limited operating history and our significant projected funding needs; risks associated with the conversion and retooling of our facility and ramp up of production; our inability to obtain orders from customers and potential customers' inability to integrate our electric vehicles into their existing fleets; our inability to retain key personnel and to hire additional personnel; competition in the electric pickup truck market; our inability to develop a sales distribution network; and the ability to protect our intellectual property rights. Any forward-looking statements speak only as of the date on which they are made, and Lordstown Motors Corp. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
前瞻性陈述
本新闻稿包括前瞻性陈述。这些声明是根据1995年美国私人证券诉讼改革法中的“安全港”条款作出的。这些陈述可以通过诸如“感觉”、“相信”、“预期”、“估计”、“项目”、“打算”、“应该”、“将要”或此类术语的否定或其他类似术语来识别。前瞻性陈述是非历史事实的陈述。此类前瞻性陈述不是对未来业绩的保证,可能会受到风险和不确定性的影响,这些风险和不确定性可能会由于许多因素而导致实际结果与本文中包含的前瞻性陈述大不相同,这些因素包括但不限于:我们有限的运营历史和重大的预计资金需求;与我们设施的转换和重组以及产量提高相关的风险;我们无法从客户那里获得订单,以及潜在客户无法将我们的电动汽车整合到他们现有的车队中;我们无法留住关键人员和招聘更多人员;电动皮卡领域的竞争。以及保护我们知识产权的能力。任何前瞻性陈述仅在发表之日发表,Lordstown Motors Corp.没有义务更新任何前瞻性陈述,以反映本新闻稿发布之日之后发生的事件或情况。在本新闻稿发表之日起,Lordstown Motors Corp.没有义务更新任何前瞻性陈述,以反映本新闻稿发布之日之后发生的事件或情况。
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