Lordstown recently resumed Endurance production, but the good news was short-lived as the company is now fighting for survival.
In a filing with the U.S. Securities and Exchange Commission, Lordstown revealed Foxconn is trying to abandon ship. As they explained, the Taiwanese tech giant sent them a letter claiming Lordstown was “in breach of the investment agreement due to its previously disclosed receipt of a notice from the Nasdaq” noting their stock price fell below the minimum for being listed on the exchange. Foxconn also proposed terminating the agreement unless Lordstown gets their stock price up within 30 days.
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