PHOENIX, March 30,
2023 /PRNewswire/ -- Nikola Corporation (Nasdaq:
NKLA) today announced the pricing of an SEC-registered underwritten
public offering and concurrent registered direct offering at a
price of $1.12 per share. Nikola will
sell 29,910,715 shares of common stock to the public in the public
offering and 59,374,999 shares of common stock to an investor in
the concurrent registered direct offering pursuant to a forward
stock purchase agreement. The gross proceeds to Nikola from the
public offering and the concurrent registered direct offering,
before deducting underwriting discounts and commissions and other
offering expenses, are $100.0
million. In addition, Nikola has granted the underwriter a
30-day option to purchase up to an additional 4,486,607 shares of
its common stock at the public offering price, less underwriting
discounts and commissions. The public offering is not
conditioned on the closing of the concurrent registered direct
offering, and the concurrent registered direct offering is not
conditioned on the closing of the public offering. The public
offering is expected to close on or about April 4, 2023, subject to customary closing
conditions. The concurrent registered direct offering is expected
to close on or about April 11, 2023,
subject to customary closing conditions.
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 Securities and Exchange Commission and became effective on
April 14, 2022 (File No. 333-264068).
A copy of the final prospectus supplement and accompanying
prospectus relating to the public offering and the concurrent
registered direct offering, when available, may be obtained from
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717
or by telephone at (800) 831-9146.
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.
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, via the HYLA brand, 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.
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 Nikola is contained in the section
captioned "Risk Factors" in the preliminary prospectus supplement
related to the public offering and the concurrent registered direct
offering filed with the Securities and Exchange Commission. Nikola
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Nikola Corporation