The US Bankruptcy Court gave an order approving the sale procedures relating to the sale of certain assets of Lordstown Motors Corp. on November 27, 2023. The debtor?s assets include Miscellaneous Assets.

For any asset sale to a single Purchaser or group of related Purchasers with an aggregate selling price of less than or equal to $0.5 million the Debtors shall file on the docket in these Cases a notice that will be served on any known affected creditor asserting any liens, claims, interests, and/or encumbrances on any assets subject to such sale, the U.S. Trustee, the Committees and the general service list established in these Cases pursuant to Bankruptcy Rule 2002. The notice shall contain a general description of the Assets subject to the sale, the proposed Purchaser of the Assets, any commissions to be paid to third parties used to sell or auction the Assets, if any, a summary of the material terms of the sale and instructions consistent with the terms described. If none of the Notice Parties file or serve upon counsel to the Debtors a written objection within five business days of service of such Sale Notice, then the Debtors may submit a proposed order via certification of counsel.

For any asset sale to a single Purchaser or group of related Purchasers with an aggregate selling price greater than $0.5 million, the Debtors shall file a separate motion seeking approval from the Court with respect to such sale.