Nikola Said Agreed To Terminate Certain Common Stock Purchase Agreement With Tumim Stone Capita Dated September 2021; Entered Into A Securities Purchase Agreement For Sale Of Up To $325M In Aggregate Principal Amount Of Senior Convertible Notes
Portfolio Pulse from Charles Gross
Nikola Corporation has terminated a common stock purchase agreement with Tumim Stone Capital that was dated September 2021. Instead, the company has entered into a securities purchase agreement for the sale of up to $325 million in aggregate principal amount of senior convertible notes.
August 21, 2023 | 10:22 am
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NEUTRAL IMPACT
Nikola Corporation's termination of a stock purchase agreement and entry into a new securities purchase agreement could potentially impact the company's stock price.
The termination of the stock purchase agreement with Tumim Stone Capital and the new securities purchase agreement for the sale of senior convertible notes could potentially lead to changes in Nikola Corporation's stock price. However, the direction of the impact is uncertain without additional information on market reaction and the terms of the new agreement.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100