Nikola Plans $325M Debt Offering
Portfolio Pulse from Shivani Kumaresan
Nikola Corp plans to sell up to $325 million in senior convertible notes in a registered direct offering. The initial closing for the sale of $125 million in notes is expected around August 21, 2023. The company also agreed to terminate a Common Stock Purchase Agreement with Tumim Stone Capital LLC. NKLA shares are trading lower by 11.22% at $1.74 in premarket.
August 21, 2023 | 11:47 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Nikola Corp's plan to sell senior convertible notes and termination of a stock purchase agreement with Tumim Stone Capital LLC has led to a drop in its share price.
The announcement of Nikola Corp's plan to sell senior convertible notes and the termination of a stock purchase agreement with Tumim Stone Capital LLC has likely led to uncertainty among investors, resulting in a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100