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Lion Electric Reaches Definitive Agreement to Sell Innovation Center in Mirabel, Quebec

Dec 05, 2024•over 1 year ago

Contract Type

agreement

MontrealManufacturingAutomotive

Description

The Lion Electric Company has reached a definitive agreement with Aéroport de Montreal to sell its innovation center facility located in Mirabel, Québec, for a purchase price of C$50,000,000. The net proceeds from the transaction are intended to be used towards the partial repayment of the company's senior secured non-convertible debentures issued in July 2023.

Company Information

Company

Lion Electric Company

Location

Montreal, Quebec, Canada

About

Lion Electric Company is a manufacturer of electric vehicles, particularly known for its electric school buses and trucks. The company faced financial difficulties and entered creditor protection. It aims to continue operations under new ownership.

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months