---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-058844"
form_type: "8-K"
ticker: "NRDE"
cik: "0001759546"
company_name: "NU RIDE INC."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:27:11.819451+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Lordstown Motors fails to close Foxconn funding; dispute escalates, going concern risk

## Summary
- Foxconn did not close the Subsequent Common Closing on May 8, 2023, depriving Lordstown of ~$47.3M critical funding.
- Foxconn asserts Nasdaq minimum bid price notice as a condition failure; Lordstown rejects the claim and plans to enforce contractual rights.
- Board appointed two Foxconn designees (Jerry Hsiao, Liting Cai) contingent on closing, which has not occurred.
- Company proposes reverse stock split (1:3 to 1:15) at May 22 annual meeting to regain Nasdaq compliance.
- Lordstown warns it may need to curtail or cease operations if funding not resolved; evaluating legal and financial alternatives.

## SEC filing metadata
- accession: 0001104659-23-058844
- form_type: 8-K
- ticker: NRDE
- cik: 0001759546
- company_name: NU RIDE INC.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759546/000110465923058844/0001104659-23-058844-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759546/000110465923058844/tm2315198d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-058844
- JSON: https://secwatch.observer/filing/0001104659-23-058844.json
- Plain text: https://secwatch.observer/filing/0001104659-23-058844.txt

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