---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-063401"
form_type: "8-K"
ticker: "NRDE"
cik: "0001759546"
company_name: "NU RIDE INC."
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:26:38.398875+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lordstown Motors 1:15 reverse stock split effective May 24; Foxconn refuses $47.3M close, cash at $165M

## Summary
- 1:15 reverse stock split effective May 24, 2023; aims to regain Nasdaq $1.00 minimum bid price compliance.
- Foxconn refused to close $47.3M stock purchase on May 8; company reserves rights and disputes Foxconn's position.
- 56 Endurance vehicles built to date, 18 delivered (12 since late April); production continues with software updates.
- Cash, equivalents and short-term investments ~$165M as of April 30, down $11M from March 31.
- Stockholders approved 8M share increase in 2020 Equity Incentive Plan and reverse split ratio between 1:3 and 1:15.

## SEC filing metadata
- accession: 0001104659-23-063401
- form_type: 8-K
- ticker: NRDE
- cik: 0001759546
- company_name: NU RIDE INC.
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.03, 5.03, 5.02, 5.07, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/tm2316396d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-063401
- JSON: https://secwatch.observer/filing/0001104659-23-063401.json
- Plain text: https://secwatch.observer/filing/0001104659-23-063401.txt

## Key facts
- Governance Changes
  NU RIDE INC.: Amended charter to effect a 1:15 reverse stock split of Class A common stock (effective 2023-05-24).
  - Change: charter amendment
  - Effective: 2023-05-24
  source text: The Board authorized a 1:15 reverse stock split (the “Reverse Stock Split”) of the outstanding Class A common stock, which will become effective as of 12:01 a.m. Eastern Time on May 24, 2023 (the “Effective Time”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm
- Shareholder Votes
  NU RIDE INC. shareholders approved Election of Class III directors.
  - Proposal: director election
  - Outcome: passed
  source text: The Stockholders elected each of the following Class III director nominees to serve for a term of three years and until their respective successors are duly elected and qualified, as set forth below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm
- Shareholder Votes
  NU RIDE INC. shareholders approved Non-binding advisory approval of compensation of named executive officers.
  - Proposal: say on pay
  - Outcome: passed
  source text: The Stockholders approved, on a non-binding advisory basis, the compensation of our named executive officers, as set forth below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm
- Shareholder Votes
  NU RIDE INC. shareholders approved Approval of amendment to 2020 Plan to increase number of shares of Class A common stock reserved under the plan by 8,000,000.
  - Proposal: equity plan
  - Outcome: passed
  source text: The Stockholders approved the amendment of the 2020 Plan to increase the number of shares of Class A common stock reserved under the plan by 8,000,000, as set forth below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm
- Shareholder Votes
  NU RIDE INC. shareholders approved Ratification of appointment of KPMG LLP as independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-12-31 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-12-31
  source text: The Stockholders ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023, as set forth below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm
- Shareholder Votes
  NU RIDE INC. shareholders approved Approval of amendment to Charter to effect reverse stock split at a ratio ranging from 1:3 to 1:15, with Board discretion on timing and specific ratio.
  - Proposal: reverse split
  - Outcome: passed
  source text: The Stockholders approved the amendment of the Company’s Charter to effect a reverse stock split of the Company’s Class A common stock at a ratio ranging from 1:3 to 1:15, and to authorize the Board to determine, at its discretion, the timing of the amendment and the specific ratio of the reverse stock split.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923063401/0001104659-23-063401-index.htm

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