Bus maker Lion Electric mulls sale of company amid cash woes [Globe and Mail, The (Toronto, Canada)]
The Lion Electric Company Common Shares (LEV)
Company Research
Source: Globe and Mail, The
In a statement Monday, the Quebec-based manufacturer said it is considering various sources of financing as well as alternatives that “include a sale of the business.” Lion Electric had previously suggested asset sales were an option as it scrambled to cut costs and find fresh funding, but had made no mention of selling the firm outright. It says various lenders that include National Bank and the Bank of Montreal have agreed to a two-week extension of a grace period to Nov. 30 on a credit agreement. Lion Electric has announced losses topping $131-million over the past four quarters and at least 520 layoffs so far this year, or more than 40 per cent of its workforce. The company's shares fell five per cent to 46 cents by midday Monday, far below highs that topped $24 in mid-2021. Sign up for our new Business Brief newsletter. A daily look at the most important business stories that are making news and moving markets, written by Chris Wilson-Smith Sign up Explore newslett
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LEV
News
- NYSE to Commence Delisting Proceedings with Respect to the Warrants of Lion Electric (LEV.WS) [Yahoo! Finance]Yahoo! Finance
- NYSE to Commence Delisting Proceedings with Respect to the Warrants of Lion Electric (LEV.WS)PR Newswire
- LION ELECTRIC ANNOUNCES FURTHER AMENDMENTS TO CERTAIN SENIOR CREDIT INSTRUMENTS [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- LION ELECTRIC ANNOUNCES FURTHER AMENDMENTS TO CERTAIN SENIOR CREDIT INSTRUMENTS [Yahoo! Finance]Yahoo! Finance
- LION ELECTRIC ANNOUNCES FURTHER AMENDMENTS TO CERTAIN SENIOR CREDIT INSTRUMENTSPR Newswire
LEV
Sec Filings
- 11/20/24 - Form 6-K
- 11/18/24 - Form 6-K
- 11/6/24 - Form 6-K
- LEV's page on the SEC website