{"id":2450,"date":"2023-04-01T09:19:10","date_gmt":"2023-04-01T09:19:10","guid":{"rendered":"https:\/\/brozlex.com\/?p=2450"},"modified":"2023-09-14T18:27:48","modified_gmt":"2023-09-14T18:27:48","slug":"nikola-hits-record-low-after-selling-100-million-worth-of-shares","status":"publish","type":"post","link":"https:\/\/brozlex.com\/?p=2450","title":{"rendered":"Nikola Hits Record Low After Selling $100 Million Worth of Shares"},"content":{"rendered":"\n

<\/p>\n\n\n\n

The $100 million secondary stock offering that the electric heavy-truck manufacturer Nikola announced on Thursday after U.S. markets closed has priced at $1.12 per share, 20% less than the stock’s Thursday closing price of $1.40.<\/p>\n\n\n\n

On Friday, Nikola<\/a>‘s shares dropped more than 13% to settle at $1.21.<\/p>\n\n\n\n

<\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

<\/p>\n\n\n\n

There seems to have been relatively little interest in the shares on Wall Street, even given the discount. Just a third of the shares may be sold by Nikola’s underwriter, Citigroup, to its customers. The remaining will be purchased straight from Nikola by an unidentified private investor, according to the truck manufacturer.<\/p>\n\n\n\n

Nikola intends to use the funds received for general spending and working capital. Later this year, the business plans to introduce a new long-range electric semitruck fueled by hydrogen fuel cells. The new vehicle will complement Nikola’s earlier-shipped Tre battery-electric heavy truck’s limited range.<\/p>\n\n\n\n

As of December 31, Nikola<\/a> has $233.4 million in cash and liquid assets. In the final three months of 2022, the truck manufacturer lost $222.1 million.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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