Nikola Corporation, listed on the Nasdaq Global Select Market under the symbol 'NKLA', has filed a prospectus supplement on August 19, 2024, to update and supplement information related to the sale of up to 249,843,711 shares of common stock. This filing includes a current report on Form 8-K, detailing the entry into a Securities Purchase Agreement for the sale of up to $160 million in senior convertible notes, convertible into common stock, with an initial closing expected on the same date for $80 million in notes. The offering is made under an existing shelf registration statement and involves a series of senior unsecured notes with a 5.0% interest rate, increasing to 12.5% upon default, maturing one year from issuance. The notes are convertible into common stock at...Show More

Nikola Corporation, listed on the Nasdaq Global Select Market under the symbol 'NKLA', has filed a prospectus supplement on August 19, 2024, to update and supplement information related to the sale of up to 249,843,711 shares of common stock. This filing includes a current report on Form 8-K, detailing the entry into a Securities Purchase Agreement for the sale of up to $160 million in senior convertible notes, convertible into common stock, with an initial closing expected on the same date for $80 million in notes. The offering is made under an existing shelf registration statement and involves a series of senior unsecured notes with a 5.0% interest rate, increasing to 12.5% upon default, maturing one year from issuance. The notes are convertible into common stock at a variable conversion price with certain limitations, including a beneficial ownership limitation of 4.99% or 9.99% upon the noteholder's election. The company has also terminated a prior purchase agreement for the sale of senior convertible notes and has outlined certain forward-looking statements regarding the initial closing and net proceeds of the offering.