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Sergey Savastiouk's Avatar
published in Blogs
Mar 16, 2021
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Nikola(NKLA, $15.80) files to sell $100 million shares

Nikola  has filed to sell $100 million worth of shares in a secondary offering.

The proceeds from the stock sale will be used for general corporate purposes, such as potentially providing funds to complete the company's Arizona manufacturing facility, and for developing electric and fuel cell commercial and hydrogen-station infrastructure. 

Last month, Nikola revealed details about its hydrogen fuel cell electric commercial truck program. It unveiled trucks with ranges from 500 miles to 900 miles.  It has plans to introduce fuel-cell-electric-vehicle variants of the Nikola Tre Cabover, the Nikola Tre FCEV and the Nikola Two FCEV Sleeper in the North American market.

The company had posted its fourth-quarter results late last month, that showed a narrower-than-expected adjusted quarterly loss.

 

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