Nikola Corp. is preparing for its long-anticipated capital raise, telling the Securities and Exchange Commission it plans to sell up to $1.2 billion in new shares.
Nikola was among the first electric transportation special purpose acquisition companies to go public in June 2020. Now it is the first to lay out plans for raising more money to keep its business going. Some other companies brought public by SPACs, such as Lordstown Motors Corp., need more money to scale their businesses.
Exactly when...
https://www.freightwaves.com/news/on-the-shelf-nikola-may-sell-up-to-12b-in-new-stock