Redemption of Public Warrants . 10.16. “It was really important that we hit the market fast.” The deal “is an example of how a SPAC, coupled with a strong pipe, can be used as an alternative to a traditional IPO,” said Alan Annex, co-chair of Greenberg Traurig’s Global Corporate Practice, who led the firm team that served as legal advisor to VectoIQ. “It’s faster and gives the target more control over the valuation.”Nikola CEO Trevor Milton at the company's Phoenix headquarters.From Los Angeles, the U.S. capital of cars and congestion, I try to make sense of technology-driven changes reshaping transportation, cities and how we get around. Nikola (NKLA) stock price, charts, trades & the US's most popular discussion forums.
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View NKLA's stock price, price target, earnings, forecast, insider trades, and news at MarketBeat. Delayed Data. The combined entity is expected to have a stock market value or capitalization of around $3.3 billion, which would place Nikola among the 20 or so … Arizona startup Nikola is going to become a publicly traded company on the NASDAQ stock exchange as it tries to grow into a zero-emission big … Nikola's hydrogen fuel-cell Badger pickup will be built by an unnamed automaker.“That was a huge thing for us because the market has never been stronger and they've never rewarded companies like ours more than now,” he says. I've“In our two-year quest to find a partner that was a proven technology leader and focused on making a global difference, Nikola was the clear winner,” VectoIQ CEO Girsky said. Nikola Announces. “I founded the company to completely disrupt the energy and transportation market.”Upon completion of the merger, VectoIQ’s Nasdaq ticker of VTIQ will change to NKLA, the companies said. That will be followed by longer-range Nikola semis running on electricity produced from hydrogen that should arrive in late 2021.Nikola, an Arizona startup developing futuristic semi-trucks powered by hydrogen fuel cells and batteries, is listing shares on Nasdaq in an unusual merger with publicly traded acquisition firm VectoIQ that the companies say is worth $3.3 billion and will bring in funds to accelerate the construction of Nikola’s first factory.Along with Iveco, Milton’s closely held company is working with industrial partners, including Bosch, Meritor, South Korea’s Hanwha and Norway’s Nel, to build sci-fi-styled semi-trucks powered by batteries and hydrogen fuel cells, a technology that produces electricity on demand in a chemical reaction producing only water as a byproduct. Nikola is to start initial commercial production of its semis in late 2021 and is also planning to build a network of large-scale hydrogen fuel stations across the U.S. And while most hydrogen is made from natural gas, Nikola intends to produce its fuel from water and renewable electric power to reduce total carbon emissions.Milton will become executive chairman of the new company, while Nikola President Mark Russell will become CEO.
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Nikola’s business model is based on seven-year leases to shippers, such as beermaker Anheuser-Busch, that include the cost of fuel.
As of 7:38pm ET -0.46 / -1.39%.
Published March 03, 2020 Analyzing Nikola (NASDAQ:NKLA) stock? Most stock quote data provided by BATS. “Nikola’s vision of a zero-emission future and ability to execute were key drivers in our decision.”From Los Angeles, the U.S. capital of cars and congestion, I try to make sense of technology-driven changes reshaping transportation, cities and how we get around. (NKLA) stock rallied 11% on Monday, snapping a brutal streak during which shares fell 8 of the past 10 days, losing 45% of their value. Nikola, an Arizona startup developing futuristic semi-trucks powered by hydrogen fuel cells and batteries, is listing shares on Nasdaq in an unusual …
What's your story?“The additional capital from blue-chip investors is a sign investors in believe the future of our business,” Trevor Milton, Nikola’s founder and CEO, said in a conference call.
I've tracked global automakers, advanced vehicle tech and environmental policy for more than two decades, including 15 years at Bloomberg, and squeezed in stints in the financial and corporate worlds. Nikola Stock Rallied 11%.
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Exhibit 99.1 .
Set Alert. The company also plans to sell battery-powered all-terrain vehicles, including a version modified for military use, and electric personal watercraft.