Nikola Adjourns And Will Reconvene Annual Meeting Of Stockholders On July 6, 2023 To Secure The Votes Needed For Proposal 2, To Increase The Authorized Number Of Shares Of Common Stock
Portfolio Pulse from Happy Mohamed
Nikola Corporation (NASDAQ:NKLA) has adjourned its 2023 Annual Meeting of Stockholders to July 6, 2023, to secure the votes needed for Proposal 2, which aims to increase the authorized number of shares of common stock. While other proposals have received the necessary votes, Proposal 2 requires a majority of all outstanding common stock for approval.
June 07, 2023 | 8:21 pm
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Nikola Corporation's adjournment of its 2023 Annual Meeting to secure votes for Proposal 2 may cause short-term uncertainty in the stock price.
The adjournment of the Annual Meeting to secure votes for Proposal 2 indicates that the company is still seeking approval for increasing the authorized number of shares of common stock. This may cause short-term uncertainty in the stock price as investors await the outcome of the vote. However, the impact may be limited as the other proposals have already received the necessary votes.
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