LION ELECTRIC ANNOUNCES EXPIRY OF COVENANT RELIEF PERIOD AND DEFAULTS UNDER CERTAIN OF ITS SENIOR DEBT INSTRUMENTS
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Lion Electric Company announced the expiry of its covenant relief period and defaults under certain senior debt instruments. The company will initiate restructuring proceedings under the CCAA.

December 17, 2024 | 12:45 pm
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Lion Electric Company has defaulted on certain senior debt instruments following the expiry of its covenant relief period. The company plans to initiate restructuring proceedings under the CCAA.
The expiry of the covenant relief period and subsequent defaults on senior debt instruments are significant financial distress signals. The initiation of restructuring proceedings under the CCAA indicates severe financial challenges, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100