DiamondPeak Holdings Corp.

Lordstown Motors Corporation, an electric pickup truck OEM, merged with special purpose acquisition company DiamondPeak Holdings Corporation in a transaction valued over $1.6 billion. The combined entity will trade on NASDAQ under 'RIDE'.

Lordstown Motors Corp. entered a definitive merger agreement with DiamondPeak Holdings Corp. to become a publicly listed company on NASDAQ under ticker 'RIDE', with gross proceeds of about $675 million to fund production of the Endurance electric pickup truck.