Another electric transportation startup may hang a ‘For Sale’ sign

Capt. John

Lightning eMotors is asking shareholders to agree to authorize 20% more stock to boost its dwindling supply of cash. Otherwise, the bus, shuttle van and work truck maker may put itself up for sale or be forced into bankruptcy.

“We continue to explore all options and have been working with financial advisers to support a recapitalization and/or sale of the business,” co-founder and CEO Tim Reeser said on a second-quarter earnings call with analysts Monday.

Shareholders vote Aug. 24 on whether to...

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