Nikola shares closed at an all-time low Thursday, and the maker of electric and fuel-cell vehicles expects to sell stock at a 20% discount to that price.
Nikola Inc. shares closed at an all-time low Thursday, and the maker of electric and fuel-cell vehicles expects to sell stock at a 20% discount to that price.
Nikola’s stock NKLA, -6.67% closed Thursday at an all-time low of $1.40, and moved to $1.30 a share in after-hours trading, following the announcement of the initial version of the deal. Nikola announced the price of the deal and the changed terms after the extended session ended. Nikola began producing an electric freight vehicle in 2022, producing 133 of the vehicles in the fourth quarter, when its revenue disappointed investors. The company intends to deliver another 250 to 350 of those trucks in 2023, executive projected in February, and begin producing its hydrogen fuel-powered version in the fourth quarter, when executives intend to deliver 125 to 150 of those trucks.
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