Deal Details
Nikola Completes $100 Million Follow-on Offering and Concurrent $175 Million Convertible Notes Offering
Summary
Nikola Corporation (“Nikola” or the “Company”) (NASDAQ: NKLA) recently completed a follow-on offering of the Company’s common stock (the “Offering”). The aggregate size of the Offering was 133,333,334 shares at a price of $0.75 per share, generating gross proceeds of $100.0 million. Concurrent with the follow-on offering, Nikola completed a convertible notes offering of $175.0 million aggregate principal amount of 8.25% Green Convertible Senior Notes due 2026 (the “Notes”).
Nikola intends to use the net proceeds from this Offering for working capital and other general corporate purposes. In addition, Nikola intends to allocate an amount equal to the net proceeds from the Notes offering to finance, refinance or make direct investments in, in whole or in part, one or more new or recently completed current or future eligible projects (such projects, “Eligible Green Projects”).
Baird served as an active bookrunner on this Offering.
About
Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with their Class 8 vehicles, including battery-electric and hydrogen-fuel cell electric trucks, and their energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing. Nikola is headquartered in Phoenix, Arizona with a manufacturing facility in Coolidge, Arizona.CONTACT US TO LEARN MORE
- Date
- December 2023
- Company
- Nikola Corporation
- Transaction
- Equity Capital Markets
- Sectors
-
Technology & Services
Industrial - Verticals
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Vehicle Technology & Mobility
- Target Geography
- North America
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