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SPAC · Merger completed

DiamondPeak Holdings Corp.

Business combination with Lordstown EV Corporation

DiamondPeak Holdings Corp. is a blank-check company (SPAC) that raised $250M in its initial public offering on Feb 28, 2019. It completed its business combination with Lordstown EV Corporation on Oct 23, 2020; the combined company is Lordstown Motors Corp. (RIDE). Founder of Diamond Head Partners led the IPO, with Colony Capital and Chairman of NorthStar Asset Management. Ellenoff Grossman & Schole advised the SPAC and Ropes & Gray advised the underwriters on the IPO.

Lordstown EV Corporation is an Ohio-based original equipment manufacturer of light-duty fleet vehicles. It owns the Lordstown Assembly Plant, where it plans to build the Lordstown Endurance, a fully electric pickup truck designed for commercial fleets.

Status
Merger completed
IPO date
Feb 28, 2019
IPO size
$250M
Target
Lordstown EV Corporation (Legacy Lordstown Motors Corp.)
Announced
Aug 3, 2020
Closed
Oct 23, 2020
Combined company
Lordstown Motors Corp. (RIDE)
IPO underwriters
Founder of Diamond Head Partners, Colony Capital, Chairman of NorthStar Asset Management, NorthStar Capital and Sachs
SPAC counsel (IPO)
Ellenoff Grossman & Schole
Underwriters' counsel (IPO)
Ropes & Gray

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