Nikola Secures Funding to Boost Electric Vehicle Growth Strategy

The latest announcement is out from Nikola (NKLA).

Nikola Corporation has entered into an agreement to sell up to $160 million of senior convertible notes to investors, with an initial sale of $80 million expected. These notes can be converted into common stock, with additional closings possible if conditions are met. The deal, which includes customary terms and beneficial ownership limitations, aims to raise about $74.3 million net for Nikola after expenses. This financial move is part of Nikola’s broader strategy to strengthen its capital structure and fuel its growth plans in the competitive electric vehicle market.

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