Why Lion Electric Stock Is Charging Higher Monday
Portfolio Pulse from Adam Eckert
The Lion Electric Co (NYSE:LEV) shares are trading higher after the company announced it has entered into subscription agreements with investors, resulting in aggregate gross proceeds of approximately $142 million. The financing is expected to close on July 19 and will be used to fund working capital, strengthen its financial position and pursue its growth strategy.
July 17, 2023 | 2:58 pm
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Lion Electric's stock is trading higher after the company announced a financing deal that will bring in $142 million. This will strengthen its financial position and support its growth strategy.
The news of Lion Electric securing $142 million in funding is directly related to the company's financial health and growth strategy. This positive development is likely to boost investor confidence, leading to a short-term increase in the company's stock price.
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