La promesa de flete de cero emisiones ha sufrido un gran revés con la bancarrota de Nikola Corp. Una empresa que una vez se posicionó como disruptor en la industria del transporte de transporte está muriendo una muerte lenta. El fabricante de camiones eléctrico e hidrógeno, una vez anunciado como...
Nikola Corp
Nikola’s Bankruptcy a Reality Check for Diesel Alternatives
The promise of zero-emission freight has suffered a big setback with Nikola Corp.’s bankruptcy. A company that once positioned itself as a disruptor in the trucking industry is dying a slow death. The electric- and hydrogen-powered truck manufacturer, once heralded as the Tesla of trucking, struggled with financial instability, supply chain challenges and a series of setbacks that ultimately led to its demise.
But Nikola’s downfall is bigger than just one company. It raises real questions about...
https://www.freightwaves.com/playbook/nikolas-bankruptcy-a-reality-check-for-diesel-alternatives
Reverse stock splits: Often a path to oblivion
The reverse stock split, a form of financial engineering that artificially boosts a company’s stock price, often sounds a death knell, especially for startups that exhausted funds in mergers with special purpose acquisition companies.
The widespread carnage of failed advanced technology startups, especially in electrification and autonomy, is remarkable. With a few exceptions, companies opting for a reverse split end up on a path to oblivion.
All hat, no cattleAccording to the independent Financia...
https://www.freightwaves.com/news/reverse-stock-splits-often-a-path-to-oblivion
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