Lordstown Motors Seeks Court Validation of Stock Authorization Amid Uncertainty

NU RIDE INC.

On January 26, 2023, Lordstown Motors filed a Section 205 petition in Delaware Court of Chancery to validate its Second Amended and Restated Certificate of Incorporation and shares issued.
On February 2, 2023, the Court granted expedited proceedings and set a final hearing on February 20, 2023, at 11:00 a.m. ET.
Stockholders may appear at the hearing or file written submissions with the Register in Chancery referencing case C.A. No. 2023-0083-LWW.
If unsuccessful, claims that a portion of Class A common stock was not authorized could have a material adverse effect on the company, including financing.

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