UNITED STATES

SECURITIES & EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 1)

 

 

Lordstown Motors Corp.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

54405Q 100

(CUSIP Number)

Mike Huang

Paul Hastings LLP

200 Park Avenue

New York, NY 10166

+1.212.318.6662

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 2, 2023

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.   ☐

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 13d-7(b) for other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be deemed to be “filed” for purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  Hon Hai Precision Industry Co., Ltd.

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Republic of China (Taiwan)

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  HC

 

(1)

The aggregate amount of shares of common stock, $0.0001 par value per share of the Issuer (the “Common Stock”) beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures Pte. Ltd. (“Foxconn Ventures”) acquired from the Issuer pursuant to that certain Investment Agreement (the “Investment Agreement”) dated as of November 7, 2022 by and between the Issuer and Foxconn Ventures; (ii) 7,248,163 shares of Common Stock held by Foxconn (Far East) Limited (“Foxconn Far East”); and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV Technology, Inc. (“Foxconn EV”). Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings Inc. (“Foxteq Holdings”), Foxteq Integration Inc. (“Foxteq Integration”) and PCE Paragon Solutions Kft. (“PCE”) is a wholly owned subsidiary of Hon Hai Precision Industry Co., Ltd. (“Hon Hai”). In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

2

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  Foxconn Ventures Pte. Ltd.

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Singapore

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  OO

 

(1)

The aggregate amount of shares of Common Stock beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures acquired from the Issuer pursuant to the Investment Agreement; (ii) 7,248,163 shares of Common Stock held by Foxconn Far East; and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV. Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings , Foxteq Integration and PCE is a wholly owned subsidiary of Hon Hai . In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

3

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  Foxconn (Far East) Limited

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Cayman Islands

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  OO

 

(1)

The aggregate amount of shares of Common Stock beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures acquired from the Issuer pursuant to the Investment Agreement; (ii) 7,248,163 shares of Common Stock held by Foxconn Far East; and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV. Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings , Foxteq Integration and PCE is a wholly owned subsidiary of Hon Hai . In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

4

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  Foxteq Holdings Inc.

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Cayman Islands

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  OO

 

(1)

The aggregate amount of shares of Common Stock beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures acquired from the Issuer pursuant to the Investment Agreement; (ii) 7,248,163 shares of Common Stock held by Foxconn Far East; and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV. Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings , Foxteq Integration and PCE is a wholly owned subsidiary of Hon Hai . In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

5

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  Foxteq Integration Inc.

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Cayman Islands

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  OO

 

(1)

The aggregate amount of shares of Common Stock beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures acquired from the Issuer pursuant to the Investment Agreement; (ii) 7,248,163 shares of Common Stock held by Foxconn Far East; and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV. Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings , Foxteq Integration and PCE is a wholly owned subsidiary of Hon Hai . In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

6

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  PCE Paragon Solutions Kft.

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Hungary

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  OO

 

(1)

The aggregate amount of shares of Common Stock beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures acquired from the Issuer pursuant to the Investment Agreement; (ii) 7,248,163 shares of Common Stock held by Foxconn Far East; and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV. Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings , Foxteq Integration and PCE is a wholly owned subsidiary of Hon Hai . In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

7

CUSIP No.: 54405Q 100

 

  1.    

  NAME OF REPORTING PERSON

 

  Foxconn EV Technology, Inc.

  2.  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC USE ONLY

 

  4.  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  WC

  5.  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  ☐

  6.  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Ohio

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7.    

  SOLE VOTING POWER

 

  0

     8.  

  SHARED VOTING POWER

 

  21,865,437 (1)

     9.  

  SOLE DISPOSITIVE POWER

 

  0

   10.  

  SHARED DISPOSITIVE POWER

 

  21,865,437 (1)

11.    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  21,865,437 (1)

12.  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13.  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.54% (2)

14.  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  CO

 

(1)

The aggregate amount of shares of Common Stock beneficially owned by the Reporting Persons is comprised of the following: (i) 12,917,274 shares of Common Stock that Foxconn Ventures acquired from the Issuer pursuant to the Investment Agreement; (ii) 7,248,163 shares of Common Stock held by Foxconn Far East; and (iii) 1,700,000 shares of Common Stock underlying warrants held by Foxconn EV. Foxconn Far East owns 54.5% of the outstanding equity interests of Foxconn Ventures and controls its board of directors. Each of Foxconn Far East, Foxconn EV, Foxteq Holdings , Foxteq Integration and PCE is a wholly owned subsidiary of Hon Hai . In this capacity, Hon Hai exercises shared voting and investment power over the shares held directly or indirectly by Foxconn Ventures, Foxconn Far East, Foxteq Holdings, Foxteq Integration, PCE and Foxconn EV.

(2)

Percent of class calculated based on an aggregate of 238,985,109 shares of Common Stock issued and outstanding as of March 3, 2023, plus 1,700,000 shares of Common Stock underlying the warrants held by Foxconn EV.

 

8

This Amendment No. 1 amends and supplements the information set forth in the Schedule 13D (the “Original Schedule 13D”) previously filed with the Securities and Exchange Commission on November 17, 2022. Except as amended hereby, all prior disclosures in the Original Schedule 13D remain unchanged. Certain terms used but not defined herein shall have the meaning assigned to them in the Original Schedule 13D.

 

ITEM 6.

Contracts, Arrangements, Understandings or Relationship with Respect to the Securities of the Issuer.

On May 2, 2023, the Reporting Persons issued a press release (the “Statement”) with respect to certain alleged breaches under the Investment Agreement. A copy of the Statement is attached hereto as Exhibit 99.5 and is incorporated by reference herein.

 

ITEM 7.

Material to Be Filed as Exhibits.

The response set forth in Item 7 of the Original Schedule 13D is hereby amended and supplemented by the following addition.

 

Exhibit

Number

    Description
Exhibit 99.5    Hon Hai Technology Group (Foxconn) Statement dated May 2, 2023

 

9

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: May 3 2023       HON HAI PRECISION INDUSTRY CO., LTD.
     

/s/ Huang Teh-Tsai

      Name: Huang Teh-Tsai
      Title: CFO
Dated: May 3, 2023       FOXCONN VENTURES PTE. LTD.
     

/s/ Jerry Hsiao

      Name: Jerry Hsiao
      Title: Authorized Signatory
Dated: May 3, 2023       FOXCONN (FAR EAST) LIMITED
     

/s/ Huang Teh-Tsai

      Name: Huang Teh-Tsai
      Title: Director
Dated: May 3, 2023       FOXTEQ HOLDINGS INC.
     

/s/ Huang Teh-Tsai

      Name: Huang Teh-Tsai
      Title: Director
Dated: May 3, 2023       FOXTEQ INTEGRATION INC.
     

/s/ Huang Teh-Tsai

      Name: Huang Teh-Tsai
      Title: Director
Dated: May 3, 2023       PCE PARAGON SOLUTIONS KFT.
     

/s/ Eric Miao

      Name: Eric Miao
      Title: Managing Director
Dated: May 3, 2023       FOXCONN EV TECHNOLOGY, INC.
     

/s/ Jerry Hsiao

      Name: Jerry Hsiao
      Title: Director

 

1

Schedule I

The following sets forth the name, position, address, principal occupation and citizenship of each Covered Person. To the best of the Reporting Person’s knowledge, (i) none of the Covered Persons during the last five (5) years has been convicted in a criminal proceeding (excluding traffic violations or other similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Hon Hai Precision Industry Co., Ltd.

 

Name   

Title or

Relationship with

Reporting Person

   

Principal

Occupation or

Employment

  

Citizenship

  

Principal Place

of Business

   

Issuer Shares

Beneficially

Owned

Young-Way Liu    Chairman    Chairman, Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  
Tai-Ming Gou    Director    Founder, Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  
Charng-Yang Wang    Director    President, Business Group A, Hon Hai Precision Industry Co., Ltd   Republic of China   Republic of China    —  
Christina Yee-Ru Liu    Director    Managing Director, Bellwether International Group, Hong Kong   Republic of China   Republic of China    —  
Kuo-Cheng Wang    Director    Independent Director and Audit Committee Chair, HannStar Board Corporation   Republic of China   Republic of China    —  
Tei-Wei Kuo    Director    Distinguished Professor, National Taiwan University   Republic of China   Republic of China    —  
Tsing-Yuan Hwang    Director    Chairman, Tokyo Star Bank (Japan)   Republic of China   Republic of China    —  
Len-Yu Liu    Director    Presiding Attorney, L&Y Attorneys at Law   Republic of China   Republic of China    —  
Yue-Min Chen    Director    Managing Director, Land Bank of Taiwan   Republic of China   Republic of China    —  
Chih-Siung Chiang    Department General Manager    Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  
Chung-Cheng Lin    Department General Manager    Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  
Chen-Ching Chu    Department General Manager    Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  
Chung-Kai Chow   

Chief Accounting

Officer

    Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  
Teh-Tsai Huang    Chief Financial Officer    Hon Hai Precision Industry Co., Ltd.   Republic of China   Republic of China    —  

 

2

Exhibit 99.5

 

LOGO

 

 

Hon Hai Technology Group (Foxconn) statement

2 May 2023

 

 

Foxconn has notified Lordstown Motors that it accepts Lordstown’s position that Foxconn does not have a current right to terminate the Investment Agreement if the breach previously notified by Foxconn is not cured within 30 days. However, Lordstown Motors is in breach of the Investment Agreement as a result of the previously disclosed notice from the Nasdaq Stock Market LLC indicating that Lordstown Motors was no longer in compliance with the $1.00 bid price requirement for continued listing on The Nasdaq Global Select Market.

We understand that Lordstown Motors is currently evaluating various courses of action as it pertains to their listing status with NASDAQ. In the meantime, we remain open to continuing our discussion and working together to reach a mutually acceptable outcome that benefits our respective stakeholders.

Foxconn vigorously disputes any claim by Lordstown Motors that Foxconn is in breach of the Investment Agreement. Foxconn has and will continue to fulfill its obligations and duties under the Investment Agreement in all material respects.