LION ELECTRIC REACHES DEFINITIVE AGREEMENT IN RESPECT OF THE SALE OF INNOVATION CENTER LOCATED IN MIRABEL, QUÉBEC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 05 2024
0mins
Source: PRnewswire
Lion Electric Company Sells Innovation Center: Lion Electric has reached an agreement to sell its innovation center in Mirabel, Québec for C$50 million, with proceeds aimed at partially repaying senior secured non-convertible debentures issued in July 2023.
Impact on Financial Position: The transaction is expected to reduce long-term debt without affecting the company's short-term liquidity and cash position, with closing anticipated before the end of 2024.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
