DiamondPeak Holdings Corp. ("DiamondPeak") (NASDAQ: DPHC) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. The sponsor of DiamondPeak is DiamondPeak Sponsor LLC, a joint venture between an entity controlled by David Hamamoto and an entity controlled by the principals of Silverpeak, an alternative investment management firm focused on three sectors: real estate, energy and credit.
Our management team is led by our Chief Executive Officer and Chairman, David Hamamoto, who is complemented by the Silverpeak platform. Mr. Hamamoto and the principals of Silverpeak have had a relationship for more than 25 years and, among the four individuals, average more than 30 years of real estate and alternatives investing experience across the public and private markets.
On August 3, 2020, DiamondPeak and Lordstown Motors Corp., a leader in electric light duty trucks, announced a definitive agreement for a business combination that would result in Lordstown becoming a publicly listed company. Upon closing of the transaction, which is expected in Q4 2020, the combined company will be named Lordstown Motors Corp. and is expected to remain listed on the NASDAQ and trade under the new ticker symbol, “RIDE.”