Lion Electric Company (LEV) has released an update.
The Lion Electric Company has revised its senior credit facilities and secured new financing, including a significant amendment to its revolving credit agreement that postpones current financial covenant obligations until September 2024 and introduces a C$15,000,000 minimum liquidity requirement. Additionally, the company entered into a C$5,000,000 loan agreement with Investissement Québec, with the option to increase to C$7,500,000, and amended terms of other existing debt instruments to better align with its current financial strategy. These strategic financial moves aim to enhance liquidity and strengthen the company’s overall financial standing as it continues to lead in the zero-emission vehicle market.
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