LORDSTOWN, Ohio - NASDAQ has issued a notice of delinquency to Lordstown Motors for failing to file its quarterly report on time.

The company announced on Friday that it received the notice on May 28, 2021, from the Listing Qualifications Department of The Nasdaq Stock Market LLC because it has not yet filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, with the Securities and Exchange Commission.

Under the Nasdaq Listing Rules, the Company has 60 calendar days from the date it received the Notice, or until July 27, 2021, to file the Q1 2021 Form 10-Q with the SEC or submit a plan to regain compliance with the Nasdaq Listing Rules

According to a news release from Lordstown Motors, the notice was anticipated and has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.

The company says it plans to file the Q1 2021 Form 10-Q as soon as possible within the timeline prescribed by Nasdaq.

Lordstown Motors, which is traded on NASDAQ under the ticker symbol RIDE, says it plans to begin manufacturing all-electric Endurance pickup trucks for the fleet sector in September.