Lightning eMotors Enters into a Purchase Agreement for up to $50 Million with Lincoln Park Capital

Lightning eMotors Enters into a Purchase Agreement for up to $50 Million with Lincoln Park CapitalAugust 30, 2022 04:05 PM Eastern Daylight TimeLOVELAND, Colo. – Lightning eMotors, Inc. (NYSE: ZEV), a leading provider of zero emission medium-duty commercial vehicles and electric vehicle technology for fleets, today announced that the Company has entered into a purchase agreement and registration rights agreement (together, the “Agreement”) for up to $50 million with Lincoln Park Capital Fund, LLC (“Lincoln Park”). The Company may issue purchase notices for regular or accelerated purchases to Lincoln Park over a 36-month period. The Company issued common shares to Lincoln Park as consideration for Lincoln Park’s irrevocable commitment to purchase ZEV common stock under the Agreement. “This transaction provides us with additional financial flexibility to raise funds when it is most advantageous for us,” said Tim Reeser, CEO of Lightning eMotors. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements.