Nikola Corp

Nikola founder sentenced to 4 years on fraud convictions

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Nikola Corp. founder Trevor Milton was sentenced to four years in federal prison and fined $1...

https://www.freightwaves.com/news/nikola-founder-sentenced-to-4-years-on-fraud-convictions

Feds seek 11-year prison term for Nikola founder

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Federal prosecutors want Nikola Corp. founder Trevor Milton sentenced to 11 years in prison for...

https://www.freightwaves.com/news/feds-seek-11-year-prison-term-for-nikola-founder

Investors pummel Nikola shares after new stock and debt sales

Investors dumped Nikola stock Friday after the electric truck maker priced the sale of 133.3 million new shares and sought to issue $175 million in new debt with an annual interest rate of 8.25%.

The new stock sale would raise to nearly 1 billion the number of outstanding shares in the company. Shareholders voted in August to double the number of authorized shares to 1.6 billion from 800 million, effectively agreeing to dilute the value of their holdings as new shares are issued.

The company...

https://www.freightwaves.com/news/investors-pummel-nikola-shares-after-new-stock-and-debt-sales

Are startup investors getting past the FOMU cycle?

The same driverless technology that Kodiak Robotics plans to put on highways in late 2024 has application to the military, which sees leveraging commercially developed innovation as smarter than creating everything itself.

Following Kodiak’s reveal of its Ford F-150-based prototype autonomous vehicle for the U.S. Army on Monday, Kodiak founder and CEO Don Burnette and I discussed dual-use technology, the recent comings and goings in the autonomous trucking space and a thawing of investor...

https://www.freightwaves.com/news/are-startup-investors-getting-past-the-fomu-cycle

Nikola CFO resigns after 6 months in role

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Nikola Corp. Chief Financial Officer Anastasia “Stasy” Pasterick is leaving the role after just six...

https://www.freightwaves.com/news/nikola-cfo-resigns-after-6-months-in-role

‘Ambitious dreamer’ Trevor Milton seeks probation instead of prison

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Trevor Milton’s lawyers portrayed the Nikola Corp. founder as “guileless” and well meaning in a...

https://www.freightwaves.com/news/ambitious-dreamer-trevor-milton-seeks-probation-instead-of-prison

Is Nikola counting too much on California for salvation?

Nikola Corp.’s ability to escape near-death experiences is being tested by shouldering the $61.8 million cost of repairing its fire-prone battery electric trucks. But California’s generous incentives for electric trucks may be a path to survival as the startup’s latest peril plays out.

“California is a state on the cutting edge of technology and has big tailwinds for the transition to zero-emissions trucking with both carrots and sticks from government incentives and regulations,” Nikola CEO...

https://www.freightwaves.com/news/is-nikola-counting-too-much-on-california-for-salvation

Nikola electric truck recall price tag $61.8M

Nikola Corp. has set aside $61.8 million to replace the batteries in its recalled electric trucks. The company expects to begin returning repaired trucks to customers in the first quarter.

The accrued liability in third-quarter earnings includes the estimated cost to reengineer, validate and retrofit the 209 recalled battery-electric trucks with an alternative battery pack. Nikola did not identify the supplier.

“Upon further investigation, it was determined that the compromise of the battery...

https://www.freightwaves.com/news/nikola-electric-truck-recall-price-tag-61-8m

Nikola claws back $165 million from founder Trevor Milton

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Nikola Corp. won $165 million in arbitration with its convicted founder Trevor Milton. That is more...

https://www.freightwaves.com/news/nikola-claws-back-165-million-from-founder-trevor-milton

Bankrupt Proterra delays auctions of electrification businesses

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Bankrupt electric bus, battery and infrastructure developer Proterra Inc. has delayed the auction...

https://www.freightwaves.com/news/bankrupt-proterra-delays-auctions-of-electrification-businesses

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