NU Ride Inc (NRDE)

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Bear in mind that each public warrant (1 whole warrant) will now entitle its holder to purchase 1 Class A common share of the combined company at a price of $11.50 per share. These warrants will become exercisable – following a declaration of effectiveness by the SEC – 30 days after the merger achieves closure and the exercise window will remain open for 5 years from the date of closure. Warrants awarded to BGL, however, will remain exercisable for a period of 3 years. Once these warrants become exercisable, Lordstown may redeem these securities for cash by issuing a notice 30 days in advance. For this to occur though, the following condition must be met:

If, and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending three business days before we send the notice of redemption to the warrant holders.


Warrants a discount