---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-105414"
form_type: "8-K"
ticker: "NRDE"
cik: "0001759546"
company_name: "NU RIDE INC."
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T06:59:04.218637+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Lordstown Motors enters $10M asset sale to LAS Capital (affiliated with former CEO)

## Summary
- Asset Purchase Agreement with LAS Capital for $10M cash to acquire electric-vehicle assets.
- Buyer is LAS Capital, affiliated with former CEO Stephen S. Burns (guarantor) and ex-CFO Julio Rodriguez.
- Bankruptcy Court hearing for approval scheduled Oct 18, 2023; deposit of 10% placed in escrow.
- Termination fee of $4M payable if buyer breaches; agreement can be terminated if not closed by Oct 31, 2023.
- Selling Entities determined no other qualified bids despite receiving non-binding proposals.

## SEC filing metadata
- accession: 0001104659-23-105414
- form_type: 8-K
- ticker: NRDE
- cik: 0001759546
- company_name: NU RIDE INC.
- filed_at: 2023-09-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759546/000110465923105414/0001104659-23-105414-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759546/000110465923105414/tm2327218d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-105414
- JSON: https://secwatch.observer/filing/0001104659-23-105414.json
- Plain text: https://secwatch.observer/filing/0001104659-23-105414.txt

## Key facts
- Material Agreements
  NU RIDE INC. entered into Asset Purchase Agreement with LAS Capital LLC valued at $10 million in cash (effective 2023-09-29).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: LAS Capital LLC
  - Value: $10 million in cash
  - Effective: 2023-09-29
  source text: On September 29, 2023, the Selling Entities entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with LAS Capital and Mr. Stephen S. Burns, an individual, as guarantor of certain obligations of LAS Capital under the Asset Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759546/000110465923105414/0001104659-23-105414-index.htm

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