Summary by Futu AI
Nikola Corporation, an innovator in zero-emissions transportation and energy infrastructure solutions, has announced the offering of $80,000,000 aggregate principal amount of Series B-1 Senior Convertible Notes due 2025. The offering price is set at $1,000 per $1,000 principal amount of notes. These notes will bear interest at a rate of 5% per annum, payable in arrears on the first calendar day of each calendar quarter starting October 1, 2024. Interest will not be paid in cash but will be capitalized by adding the accrued interest to the outstanding principal of the Notes. In the event of a default, the interest rate will increase to 12.5% per annum. The Notes are convertible at any time, in whole or in part, at the option of the holders into shares...Show More