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Lion Electric Company ( (LEV) ) has provided an announcement.
Lion Electric Company is facing financial difficulties as it announced the expiry of its covenant relief period and defaults under certain senior debt instruments. The company is initiating restructuring proceedings under the Companies’ Creditors Arrangement Act to manage its obligations and explore alternatives such as a sale of its business or assets. Trading of its shares on major stock exchanges has been halted, pending a review of its listing suitability.
More about Lion Electric Company
Lion Electric is a North American leader in the electric transportation industry, specializing in the production of all-electric medium and heavy-duty urban vehicles, including school buses. The company designs, builds, and assembles its vehicles’ components and trades on the NYSE and TSX under the symbol LEV.
YTD Price Performance: -85.88%
Average Trading Volume: 5,744,811
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $56.55M
See more insights into LEV stock on TipRanks’ Stock Analysis page.
