Lordstown Motors' $10.2M asset sale to LandX approved by court

NU RIDE INC.

Bankruptcy Court approved sale of Lordstown's assets to LandX Motors (LAS Capital assignee) for ~$10.2M cash.
Assets include electric light duty vehicle design, production, and commercial fleet market assets, sold free of liens.
Purchase price increased from $10M to approx $10.2M; sale expected to close by Oct 31, 2023.
Company warns common stock may have little or no value; trading is highly speculative.
Chapter 11 proceedings continue; shareholders unlikely to receive any distribution.

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