Lightning eMotors, Inc.: going-concern / distress — Lightning eMotors placed into receivership; shareholders to receive no distributions

Lightning eMotors, Inc.

Cupola Infrastructure Income Fund filed for receivership; company stipulated to appointment of Cordes & Company as receiver.
Receiver will take possession of all assets, sell them, and distribute proceeds to creditors in court-approved manner.
Shareholders will receive no distributions; NYSE to file Form 25 to delist common stock and warrants.
Receivership triggers event of default under senior notes and other financing arrangements.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Lightning eMotors, Inc. entered receivership in District Court, Larimer County, State of Colorado (petition 2023-12-13).

Proceeding: receivership
Court: District Court, Larimer County, State of Colorado
Petition: 2023-12-13

Exact text from the filing

On December 13, 2023, Cupola Infrastructure Income Fund, L.L.L.P. filed a complaint and accompanying motion and proposed order, requesting the District Court, Larimer County, State of Colorado (the “Court”), to appoint a receiver (the “Receivership”) over Lightning eMotors, Inc. and its wholly owned subsidiary, Lightning Systems, Inc.

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Source: SEC EDGAR

accession 0001802749-23-000141

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