Electric truck startup Nikola Corp. is doubling the size of its stock-for-credit line with a private lender to $600 million, enough credit to ramp up production through 2022, the company said Monday.
Nikola (NASDAQ: NKLA) will sell up to $300 million shares to Tumim Stone Capital at a 3% discount and make an up front payment of 252,040 shares worth $3,011,878 at Monday’s closing price of $11.95. The 75 basis points up front and the discount are the same as the terms of the first $300 million...
https://www.freightwaves.com/news/cash-strapped-nikola-expands-equity-for-credit-line-to-600m