Electric pickup truck startup Lordstown Motors Corp. (LMC) is going public through a reverse merger with a special purpose acquisition company (SPAC), the latest clean transportation company to take a fast-track to public trading.
Former Workhorse Group (NASDAQ: WKHS) CEO Steve Burns created LMC in 2019 with the purchase of a former General Motors plant (NYSE: GM) in northeast Ohio. GM is investing $75 million in LMC, including a mortgage loan to LMC and money for retooling the plant.
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