Lordstown Motors files modified Ch 11 plan; proposes $3M securities settlement and SEC claim deal

NU RIDE INC.

Second Modified First Amended Plan filed Jan 31, includes $3M escrow for Ohio securities class settlement.
Class members may also receive up to 25% of net proceeds from retained causes of action (capped at $7M).
Plan conditions confirmation on SEC approving offer to resolve $45M claim; hearing Feb 22, 2024.
Company warns current stock may have little or no value; trading highly speculative.
Plan and settlements remain subject to Bankruptcy Court and SEC approvals.

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