The C-suite shakeup comes a week after the electric vehicle pickup truck maker issued a "going concern" warning.
The electric vehicle pickup truck maker issued a "going concern" warning, disclosing it didn't have the funds to start commercial production.
The restatements follow new SEC guidance on how SPACs should account for the warrants that they typically issue as part of initial public offerings.
A Hindenburg Research report alleged that the truckmaker's product orders "appear largely fictitious and [are] used as a prop to raise capital."
GM shut down its Lordstown, Ohio, plant last year, despite an agreement to keep it active until 2037.
The electric pickup truck maker joins a growing number of companies that have gone public through mergers with special purpose acquisition companies.
