Nikola to Raise up to $400 Million in Stock Sale

Reuters2022-08-30

(Reuters) - Nikola Corp said on Tuesday it may sell shares to raise up to $400 million, as the electric truck maker looks to ramp up production amid rising costs.

The company, which is grappling with higher labor and raw material costs due to decades-high inflation and the Russia-Ukraine war, said it has no obligation to sell any shares and may stop sales at any time.

Nikola earlier this month received investors' approval to increase the number of authorized shares to 800 million from 600 million after delaying its annual shareholder meeting several times to solicit more proxies in favor of the proposal.

Founder and former Chief Executive Officer Trevor Milton voted against the company's proposal to issue new shares at its first annual shareholder meeting this year, according to a Bloomberg News report.

Nikola said on Tuesday it has signed up Citigroup Global Markets as its sales agent.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Carolir
2022-08-30
Carolir
Ok

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1154586999?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-08-30 21:01","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1154586999","market":"us","top_or_hot":-1,"title":"Nikola to Raise up to $400 Million in Stock Sale","media":"Reuters","content":"<html><head></head><body><p>(Reuters) - <a href=\"https://laohu8.com/S/NKLA\">Nikola Corp</a> said on Tuesday it may sell shares to raise up to $400 million, as the electric truck maker looks to ramp up production amid rising costs.</p><p>The company, which is grappling with higher labor and raw material costs due to decades-high inflation and the Russia-Ukraine war, said it has no obligation to sell any shares and may stop sales at any time.</p><p>Nikola earlier this month received investors&#39; approval to increase the number of authorized shares to 800 million from 600 million after delaying its annual shareholder meeting several times to solicit more proxies in favor of the proposal.</p><p>Founder and former Chief Executive Officer Trevor Milton voted against the company&#39;s proposal to issue new shares at its first annual shareholder meeting this year, according to a Bloomberg News report.</p><p>Nikola said on Tuesday it has signed up Citigroup Global Markets as its sales agent.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nikola to Raise up to $400 Million in Stock Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNikola to Raise up to $400 Million in Stock Sale\n</h2>\n\n<h4 class=\"meta\">\n\n2022-08-30 21:01 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Nikola Corp said on Tuesday it may sell shares to raise up to $400 million, as the electric truck maker looks to ramp up production amid rising costs.The company, which is grappling with ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NKLA","symbol_name":"Nikola Corporation","start_time":0,"source_url":"","article_id":"1154586999","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154586999","pubTimestamp":1661864482,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"(Reuters) - Nikola Corp said on Tuesday it may sell shares to raise up to $400 million, as the elect","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NKLA":"Nikola Corporation"},"translate_title":"尼古拉将通过出售股票筹集4亿美元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NKLA":0.9},"content_text":"(Reuters) - Nikola Corp said on Tuesday it may sell shares to raise up to $400 million, as the electric truck maker looks to ramp up production amid rising costs.The company, which is grappling with higher labor and raw material costs due to decades-high inflation and the Russia-Ukraine war, said it has no obligation to sell any shares and may stop sales at any time.Nikola earlier this month received investors' approval to increase the number of authorized shares to 800 million from 600 million after delaying its annual shareholder meeting several times to solicit more proxies in favor of the proposal.Founder and former Chief Executive Officer Trevor Milton voted against the company's proposal to issue new shares at its first annual shareholder meeting this year, according to a Bloomberg News report.Nikola said on Tuesday it has signed up Citigroup Global Markets as its sales agent.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9997771956,"gmtCreate":1661866035677,"gmtModify":1676536592739,"author":{"id":"3576326025007657","authorId":"3576326025007657","name":"Carolir","avatar":"https://static.tigerbbs.com/7336f44d3eff2834f40e92f17d72ed7e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3576326025007657","authorIdStr":"3576326025007657"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9997771956","repostId":1154586999,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":44,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1154586999"}