02
Mar
14:23
GM sells its stake in electric vehicle start-up Lordstown Motors
General Motors has sold its stake in struggling Ohio-based Lordstown Motors, Kallanish reports.
GM had invested in the company as part of the sale of an Ohio auto plant to the electric vehicle start-up as well as a special acquisition merger in 2021 that took Lordstown public. GM had owned 7.5 million shares with an equity value of $75m. They were given in exchange for in-kind contributions and $25m in cash. GM’s stake was less than 5%. The stock was sold in…
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Anonymous
Very good overview of the weekly steel market.
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