The former CEO of Lordstown Motors Corp. has bought the company’s assets for $10 million, according to documents filed with the U.S. Securities and Exchange Commission.
Stephen S. Burns, who was also a member of the board of directors, resigned in June 2021. He is the majority equity holder of LAS Capital LLC. Julio Rodriguez, former chief financial officer for Lordstown Motors Corp., is one of the “indirect managers of LAS Capital,” the documents say.
“LAS Capital has agreed to acquire specified assets of the selling entities related to the design, production and sale of electric light duty vehicles focused on the commercial fleet market free and clear of liens, claims, encumbrances, and other interests, and assume certain specified liabilities of the selling entities,” the documents say.
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