secwatch.observer — SEC 8-K summary
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Issuer:     NU RIDE INC. (NRDE)
CIK:        0001759546
Form:       8-K
Filed at:   2022-11-22T23:59:59+00:00
Accession:  0001104659-22-121019
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lordstown Motors closes $52.7M initial investment from Foxconn; Series A Preferred issued
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- Foxconn invested $52.7M for 12.9M common shares at $1.76/sh and 300,000 Series A Preferred at $100/sh.
- Second closing of 26.9M common shares at $1.76/sh contingent on CFIUS clearance and HSR expiration.
- Series A Preferred carries 8% annual dividend, convertible into common at $1.936/sh after May 2023.
- Foxconn may purchase up to 700,000 additional Preferred shares ($100/sh) upon EV program milestone achievements.
- Registration Rights Agreement grants Foxconn demand and piggyback rights; company to file resale registration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1759546/000110465922121019/0001104659-22-121019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1759546/000110465922121019/tm2231108d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-121019

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