Nikola Corporation announced a common stock offering of up to 89,285,714 shares of common shares, $0.0001 par value per share, a filing with the United States Securities and Exchange Commission (SEC) on Monday showed.
The company said it will offer 29,910,715 shares to the public and has granted the underwriter an option to buy up to 4,486,607 additional shares. Furthermore, Nikola added that Antara Capital LP agreed to purchase up to $100 million worth of shares on behalf of certain of its advised or managed funds and accounts in a registered direct offering by buying 59,374,999 shares of common stock at a price per share equal to the public offering price.
Nikola added it expects proceeds from the offering, after deducting the underwriting discounts and commissions, placement agent fees and estimated offering expenses payable by the company, to be approximately $95.7 million and added it plans to use them for working capital and general corporate purposes.
