Securities and Exchange Commission

Self-driving truck technology startup TuSimple nears stock offering

Self-driving truck technology developer TuSimple expects to file a prospectus to sell public stock as soon as next week, according to published reports and people close to the situation.

The company, with offices in San Diego and Beijing, has 50 Level 4 autonomous trucks running paid freight in Southwestern states. Those trucks still have a safety driver who can assume control of the vehicle if necessary. TuSimple is partnering with Navistar International Corp. (NYSE: NAV) to sell a long-haul...

https://www.freightwaves.com/news/self-driving-truck-technology-startup-tusimple-nears-stock-offering

Tesla invests in Bitcoin and may sell vehicles for cryptocurrency

Tesla Inc. (NASDAQ: TSLA) disclosed Monday it has invested $1.5 billion in Bitcoin cryptocurrency. It plans to begin accepting it in payment for its electric vehicles.

The move was included in the business risks section of Tesla’s annual 10-K filing with the Securities and Exchange Commission. Tesla CEO Elon Musk has been tweeting cryptic but supportive messages to feed the craze over the meme-based Dogecoin cryptocurrency.

In its SEC filing, Tesla wrote that it updated its investment policy in...

https://www.freightwaves.com/news/tesla-invests-in-bitcoin-and-may-sell-vehicles-for-cryptocurrency

FreightWaves Truck Talk: What does Workhorse’s past say about its future?

Never-ending story … Battery-electric delivery van maker Workhorse Group (NASDAQ: WKHS) lives on borrowed money. It always has. And while an incredible retail investor-driven run continues in the first weeks of 2021, Workhorse short interest is a whopping 29%, according to Fintel.ioi. That means almost one in three shares are held by borrowers betting the price will fall. A healthy level of short interest is typically 8-15%. Founded by Steve Burns as Amp Electric Vehicles, the company has...

https://s29755.pcdn.co/news/freightwaves-truck-talk-what-does-workhorses-past-say-about-its-future

Short seller Hindenburg Research renews attack on Nikola

Hindenburg Research, the short seller that successfully beat down Nikola’s share price by 40%, fired more shots at the beleaguered electric truck startup on Tuesday. Nikola refused to engage amid a report of a possible Securities and Exchange Commission (SEC) inquiry.

Nikola, which hired crisis communications firm Joele Frank, declined to respond to questions about Hindenburg’s renewed attack or a Bloomberg report quoting unnamed sources that the SEC was investigating Nikola. 

The SEC declined to...

https://s29755.pcdn.co/news/short-seller-hindenburg-research-renews-attack-on-nikola

TravelCenters of America stock flops on new $75 million offering

TA sign

Jon Pertchik’s high-energy efforts to turn around TravelCenters of America (NASDAQ: TA) continued Monday with a $75 million offering of new stock, but shares plummeted nearly 24% below the asking price during the trading day.

In a U.S. Securities and Exchange Commission (SEC) filing, the operator of 263 full-service travel plazas and truck stops offered slightly more than 3.4 million new shares at $21.88 a share, the closing price on Friday. 

In a separate SEC filing on Friday, TA raised its...

https://www.freightwaves.com/news/travelcenters-of-america-stock-flops-on-new-75-million-offering

Navistar extends CEO’s contract as buyout by TRATON on hold

Navistar International Corp. (NYSE: NAV) CEO Troy Clarke will lead the company until at least July 1 as the coronavirus pandemic delays action on a $2.9 billion buyout offer by Volkswagen AG’s trucking subsidiary TRATON Group.

Clarke’s contract was extended on April 11 beyond its scheduled expiration on April 22, according to a Navistar filing with the U.S. Securities and Exchange Commission (SEC). It is the third time his contract has been pushed out following extensions in 2018 and 2019.

The...

https://www.freightwaves.com/news/navistar-extends-ceos-contract-as-buyout-by-traton-on-hold

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