Nikola Announces Pricing of $100.0 Million Common Stock Transactions
Nikola Corporation (Nasdaq: NKLA) announced the pricing of a $100 million public offering and a concurrent direct offering at $1.12 per share. The company plans to sell approximately 29.9 million shares in the public offering and 59.4 million shares in the direct offering. The public offering is set to close around April 4, 2023, while the direct offering is expected to close around April 11, 2023. Proceeds from the offerings will be utilized for working capital and general corporate purposes. Citigroup is the sole book-running manager for the public offering. The press release also includes disclaimers regarding forward-looking statements and associated risks.
- Nikola is raising $100 million through a public and direct stock offering.
- Proceeds are allocated for working capital and corporate purposes, indicating strategic financial planning.
- The stock offering may dilute existing shareholders' equity.
- Market conditions and closing conditions pose risks for the successful completion of the offerings.
Nikola currently intends to use the net proceeds from the public offering and the concurrent registered direct offering for working capital and other general corporate purposes.
Citigroup is acting as the sole book-running manager for the proposed public offering.
A shelf registration statement relating to the shares was filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola, including statements that relate to the timing, size and completion of the proposed public offering and the concurrent registered direct offering and other information that is not historical information. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks and uncertainties related to completion of the public offering and the concurrent registered direct offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the public offering and the concurrent registered direct offering. More information about the risks and uncertainties faced by
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