On March 14, 2024, Nu Ride Inc. (NuRide), formerly known as Lordstown Motors Corp., emerged from bankruptcy as a public reporting company. At year end 2024, the company’s assets consisted primarily of approximately $29.5 million of unrestricted cash, $23.4 million of restricted short-term investments, $1.1 billion of net operating loss carry forwards with no expiration date and various causes of action. NuRide intends to deploy its cash and intangible assets to (i) settle and pay remaining creditor claims from the bankruptcy, (ii) investigate and prosecute its causes of action, and (iii) identify, evaluate, and pursue one or more potential business combinations or acquisitions, as determined by the Board. NuRide has no debt apart from certain liabilities related to general unsecured claims filed in the bankruptcy case. Additional information about the company is available on the company’s website (www.nurideinc.com) and in the company’s filings with the U.S. Securities and Exchange Commission available at www.sec.gov/edgar.
