Green Nikola Holdings plans to cut its ownership stake in Nikola Corp. (NASDAQ: NKLA) by 50%. The subsidiary of South Korean solar panel maker Hanwha Group is the second major partner to reduce its holdings in the troubled electric truck startup.
The action follows Nikola’s filing on Monday to sell $100 million in new shares. The additional shares would dilute the value of shares currently held.
The Hanwha affiliate said it still believes in Nikola’s plans for zero-emissions trucking by battery...
https://www.freightwaves.com/news/second-major-partner-cuts-stake-as-nikola-seeks-new-100m