ATTENTION NIKOLA STOCKHOLDERS - LESS THAN 0.5% OF OUTSTANDING SHARES NEEDED TO PASS PROPOSAL 2!

Rhea-AI Summary

Nikola Corporation (Nasdaq: NKLA) urges stockholders to vote for Proposal 2 by August 1, 2022, 11:59 PM ET. This proposal seeks to increase authorized common shares from 600 million to 800 million and requires a majority vote to pass. Currently, less than 0.5% of outstanding shares are needed for approval. CEO Mark Russell emphasizes the significance of every vote, as uncast votes negatively impact the outcome. The virtual Annual Meeting is scheduled for August 2, 2022, at 3 PM PT.

Positive

• Proposal 2 aims to increase authorized shares, enhancing growth flexibility.
• Less than 0.5% of outstanding shares needed for the proposal approval.

Negative

• Approval depends on majority, risking dilution if not passed.

• DEADLINE TO VOTE: August 1, 2022 at 11:59 p.m. Eastern Time
• VOTE BY PHONE: North America – (855) 935-2562 or International – 1-(207) 607-7123
• VOTE ONLINE: www.proxyvote.com
• CEO Mark Russell highlights importance of ALL stockholders' votes in new video

PHOENIX, July 20, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, strongly urges ALL stockholders to vote IMMEDIATELY for Proposal 2 ahead of the Annual Meeting of Stockholders at 3:00 p.m. Pacific Time on August 2, 2022.

Thanks to the support of its stockholders, Nikola is less than 0.5% short of the outstanding shares needed to be voted in favor to approve Proposal 2, which would allow the Company to increase the authorized number of common shares from 600 million to 800 million. Proposal 2 has a high threshold for approval – it requires a majority of outstanding common stock to be voted in favor for approval. This threshold effectively means that shares that are not voted have the same practical impact as a vote against this important proposal.

Nikola's Chief Executive Officer Mark Russell also released a video message to stockholders reiterating the importance of their vote, which can be accessed here or via Nikola's social media channels.

Every vote matters and all stockholders, even if they hold only a handful of shares, play a critical role in approving Proposal 2 to give Nikola the flexibility to support the future growth and development of its business. VOTE FOR Proposal 2 NOW, if you have not already. Stockholders must VOTE by 11:59 p.m., Eastern Time, on August 1, 2022, to ensure their vote is counted.

VOTE NOW to SUPPORT NIKOLA:

• BY PHONE: Please call Alliance Advisors, Nikola's proxy solicitor, toll-free, at (855) 935-2562. International voters can call 1-(207) 607-7123. You can also contact Alliance Advisors if you have any questions about voting.
• Retail investors, including individual stockholders who purchased shares through app-based brokers, should call the relevant number above.
• BY INTERNET: Vote at www.proxyvote.com using your control number by following the instructions shared by your broker, bank or other nominee.
• If you are a Robinhood holder, you can vote your shares at www.proxypush.com and follow the instructions you have received.

Stockholders may be contacted directly by Alliance Advisors about voting their shares and should also be checking their spam filters for information about voting.

Stockholders as of the close of business on April 4, 2022, should vote their shares even if they no longer hold them. No additional action is required for stockholders who have already voted. The virtual 2022 Annual Meeting of Stockholders will be held at 3:00 p.m. Pacific Time on August 2, 2022 at https://east.virtualshareholdermeeting.com/vsm/web?pvskey=02082022-654110 via live audio webcast.

About Nikola Corporation

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

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SOURCE Nikola Corporation

FAQ

What is Proposal 2 for Nikola Corporation (NKLA)?

Proposal 2 seeks to increase the authorized common shares from 600 million to 800 million.

What is the deadline to vote for Nikola's Proposal 2?

The deadline to vote is August 1, 2022, at 11:59 PM Eastern Time.

Why is Nikola emphasizing the importance of stockholder votes?

Every vote is crucial since uncast votes count as a vote against Proposal 2.

When is the Nikola Annual Meeting of Stockholders?

The Annual Meeting is scheduled for August 2, 2022, at 3 PM Pacific Time.

How can stockholders vote for Nikola's Proposal 2?

Stockholders can vote by phone or online at www.proxyvote.com.