Nikola Corporation, listed on The Nasdaq Stock Market under the symbol NKLA, has announced the approval and imminent execution of a reverse stock split. The decision was made following the approval by Nikola's stockholders at the annual meeting on June 5, 2024, and subsequently by the Board of Directors on June 13, 2024. The reverse stock split will be at a ratio of 1-for-30 and is set to take effect on June 24, 2024, at 4:01 p.m. Eastern Time. Trading on a split-adjusted basis will commence the following day, June 25, 2024, with a new CUSIP number 654110303. This action will consolidate every thirty shares of existing common stock into one share and will proportionately adjust outstanding equity awards, warrants, and convertible notes. No fractional shares will...Show More

Nikola Corporation, listed on The Nasdaq Stock Market under the symbol NKLA, has announced the approval and imminent execution of a reverse stock split. The decision was made following the approval by Nikola's stockholders at the annual meeting on June 5, 2024, and subsequently by the Board of Directors on June 13, 2024. The reverse stock split will be at a ratio of 1-for-30 and is set to take effect on June 24, 2024, at 4:01 p.m. Eastern Time. Trading on a split-adjusted basis will commence the following day, June 25, 2024, with a new CUSIP number 654110303. This action will consolidate every thirty shares of existing common stock into one share and will proportionately adjust outstanding equity awards, warrants, and convertible notes. No fractional shares will be issued; instead, shareholders will receive a cash payment for fractional interests. The reverse stock split aims to affect all shareholders uniformly without altering their percentage ownership in the company, except for adjustments due to fractional shares. Additionally, the number of authorized shares of common stock will be reduced from 1.6 billion to 1 billion. Continental Stock Transfer & Trust Company has been appointed as the exchange agent for this corporate action.