Nikola Attempts a Financial U-Turn with $100 Million Stock Offering
In a bold bid to steer clear of deeper financial woes, Nikola Corporation announces a $100 million common stock offering. Despite a sturdy record of producing 203 trucks this year, with plans to sell up to 350 hydrogen-electric semis by 2024, Nikola reels from a hefty net loss and founder's fraud conviction fallout. The stock drive aims at securing working capital, yet poses the risk of diluting current shareholder stakes. Can Nikola get back its stride amidst fierce industry competition and credibility concerns?
Dec 26