Troubled electric truckmaker Nikola offers up to $100 million in common stock | TechCrunch
Briefly

from TechCrunch2 months ago
Nikola Corp. is actively trying to recover from reputational damage and financial instability caused by the fraud conviction of its founder, Trevor Milton.
TechCrunchhttps://techcrunch.com/2024/12/09/troubled-electric-truckmaker-nikola-offers-up-to-100-million-in-common-stock/
The recent equity sale of up to $100 million is part of Nikola's strategy to stabilize its financial health, despite potential dilution for existing shareholders.
TechCrunchhttps://techcrunch.com/2024/12/09/troubled-electric-truckmaker-nikola-offers-up-to-100-million-in-common-stock/
While Nikola's conversion price for noteholders is set at $3.12 per share, the stock is currently trading at $1.46, reflecting decreased investor confidence.
TechCrunchhttps://techcrunch.com/2024/12/09/troubled-electric-truckmaker-nikola-offers-up-to-100-million-in-common-stock/
Nikola aims to invest proceeds from the upcoming sale in short and medium-term financial instruments, while also considering strategic acquisitions to bolster growth.
TechCrunchhttps://techcrunch.com/2024/12/09/troubled-electric-truckmaker-nikola-offers-up-to-100-million-in-common-stock/
Read at TechCrunch
#nikola-corp #financial-recovery #investor-confidence #equity-sale #trevor-milton
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