Published on: 2025-05-02 03:30:27
Lucid Motors has announced that it's acquiring certain facilities in Arizona owned by Nikola, an EV truck maker that filed for Chapter 11 bankruptcy protection back in February. It will also offer more than 300 former Nikola employees jobs across its facilities in the state, including roles in engineering, software, assembly, vehicle testing and warehouse support. Lucid says that most of the space it's buying is comprised of state-of-the-art manufacturing and warehousing buildings. It's also get
Keywords: arizona bankruptcy facilities lucid nikola
Find related items on AmazonPublished on: 2025-05-02 14:06:15
EV startup Lucid Motors has emerged as a surprise winner in the bankruptcy auction for electric trucking company Nikola’s Arizona factory and other assets, according a late Thursday night court filing. Lucid committed around $30 million in cash and non-cash considerations in exchange for the factory, Nikola’s lease on its Phoenix headquarters, and “certain machinery, equipment and inventory,” according to the filing. As part of the deal, Lucid is planning to make offers to around 300 former Ni
Keywords: assets bankruptcy factory lucid nikola
Find related items on AmazonPublished on: 2025-05-04 23:08:52
Banking-as-a-service startup Solid (formerly called Wise) has filed for Chapter 11 bankruptcy protection, according to documents filed in the United States Bankruptcy Court for the District of Delaware on April 7. Founded in 2018, the fintech company had raised a total of nearly $81 million in funding from investors such as FTV Capital and Headline. Solid was valued at $330 million as of August 2022, according to PitchBook, when it announced a $63 million Series B round of funding led by FTV.
Keywords: bankruptcy fintech ftv million solid
Find related items on AmazonPublished on: 2025-05-10 03:46:23
Nikola founder Trevor Milton, who was recently pardoned after being convicted of securities fraud, is trying to buy the assets of his former company out of bankruptcy, according to new court filings and a person familiar with the matter. Nikola filed for Chapter 11 bankruptcy protection in February and has said it hopes to sell its business by the middle of this month. Milton’s bid was met with a frosty reception — filings show the company stopped him from personally inspecting the assets at it
Keywords: bankruptcy company isso milton nikola
Find related items on AmazonPublished on: 2025-05-19 15:40:30
Federal Trade Commission Chairman Andrew Ferguson said he's keeping an eye on 23andMe's bankruptcy proceeding and the company's planned sale because of privacy concerns related to genetic testing data. 23andMe and its future owner must uphold the company's privacy promises, Ferguson said in a letter sent yesterday to representatives of the US Trustee Program, a Justice Department division that oversees administration of bankruptcy proceedings. "As Chairman of the Federal Trade Commission, I wri
Keywords: 23andme bankruptcy company data information
Find related items on AmazonPublished on: 2025-05-16 02:00:00
Bankruptcy proceedings involving personal data don’t have to end badly. In 2000, the Federal Trade Commission settled with the bankrupt retailer ToySmart to ensure that its customer data could not be sold as a stand-alone asset, and that customers would have to affirmatively consent to unexpected new uses of their data. And in 2015, the FTC intervened in the bankruptcy of RadioShack to ensure that it would keep its promises never to sell the personal data of its customers. (RadioShack eventually
Keywords: 23andme bankruptcy data genetic users
Find related items on AmazonPublished on: 2025-06-01 06:13:02
Vertical farming company Plenty has filed for bankruptcy, the company said in a press release on Monday. In its statement, Plenty said it has received a commitment for $20.7 million in debtor-in-possession financing as part of a proposed restructuring plan. It plans to continue to operate a strawberry farm in Virginia and a plant science research and development (R&D) center in Wyoming. Debtor-in-possession financing is financing for firms in Chapter 11 bankruptcy. Since its 2014 inception, S
Keywords: 2023 bankruptcy billion financing million
Find related items on AmazonPublished on: 2025-06-03 07:51:18
DNA testing site 23andMe files for bankruptcy protection Popular DNA testing firm 23andMe has filed for bankruptcy protection, and announced that its co-founder and CEO, Anne Wojcicki, has resigned with immediate effect. The company will now attempt to sell itself under the supervision of a court. 23andMe said in a press release that it plans to continue operating throughout the sale process and that there "are no changes to the way the company stores, manages, or protects customer data." On
Keywords: 23andme bankruptcy company data dna
Find related items on AmazonPublished on: 2025-07-13 04:15:26
According to a report from Bloomberg, the ongoing bankruptcy case of the collapsed cryptocurrency exchange/pseudo ponzi scheme FTX has racked up nearly $1 billion in lawyer fees—and that figure continues to climb as firms continue to try to unwind Sam Bankman-Fried’s mess and make creditors whole. Per Bloomberg, $948 million has already been paid to more than a dozen law firms involved in the FTX bankruptcy case—and $952 million in fees have been approved by the court thus far. That figure make
Keywords: bankruptcy billion company creditors ftx
Find related items on AmazonPublished on: 2025-07-12 03:07:07
Electric trucking startup Nikola is hoping to sell what remains of its whole business as early as April, lawyers for the company told a judge Thursday during the first hearing of its bankruptcy case in Delaware. The lawyers claimed Nikola already has at least three interested buyers (who they did not name) and that the company hopes to solicit other bids, with a submission deadline likely in late March. If Nikola can’t find a buyer willing to take on the whole business, the company will pivot
Keywords: bankruptcy company girsky nikola said
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