---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-115456"
form_type: "8-K"
ticker: "NRDE"
cik: "0001759546"
company_name: "NU RIDE INC."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:39:13.276634+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Foxconn to invest up to $170M in Lordstown Motors; initial closing Nov 22, 2022

## Summary
- Foxconn will purchase $22.7M in common stock at $1.76/share and $30M in preferred stock at $100/share at initial closing.
- Additional $47.3M common stock purchase subject to CFIUS clearance; up to $70M more preferred stock tied to EV program milestones.
- Foxconn to receive two board seats after CFIUS clearance and subsequent common closing.
- Existing joint venture with Foxconn terminated; proceeds from preferred stock fund new EV program.
- Foxconn granted participation rights in future equity offerings and is subject to standstill and ownership limits.

## SEC filing metadata
- accession: 0001104659-22-115456
- form_type: 8-K
- ticker: NRDE
- cik: 0001759546
- company_name: NU RIDE INC.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759546/000110465922115456/0001104659-22-115456-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759546/000110465922115456/tm2229871d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-115456
- JSON: https://secwatch.observer/filing/0001104659-22-115456.json
- Plain text: https://secwatch.observer/filing/0001104659-22-115456.txt

## Key facts
- Material Agreements
  NU RIDE INC. entered into Investment Agreement with Foxconn Ventures Pte. Ltd. valued at up to $70 million of Common Stock and up to $100 million of Preferred Stock (effective 2022-11-07).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Foxconn Ventures Pte. Ltd.
  - Value: up to $70 million of Common Stock and up to $100 million of Preferred Stock
  - Effective: 2022-11-07
  source text: On November 7, 2022, Lordstown Motors Corp. (the “Company”), entered into an Investment Agreement (the “Investment Agreement”) with Foxconn Ventures Pte. Ltd., an affiliate of global technology company Hon Hai Technology Group (“Foxconn”), pursuant to which Foxconn agreed to make an additional equity investment (collectively, the “Investment Transactions”) in the Company in the form of up to $70 million of our Class A common stock, $0.0001 par value per share (the “Common Stock”), and up to $100 million of Series A Convertible Preferred Stock, $0.0001 par value per share (the “Preferred Stock,” and together with the Common Stock, the “Securities”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465922115456/0001104659-22-115456-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.