Nikola shares are trading lower after the company announced an agreement to sell up to $325 million in aggregate principle amount of senior convertible notes.
Portfolio Pulse from Benzinga Newsdesk
Nikola Corporation has announced an agreement to sell up to $325 million in aggregate principle amount of senior convertible notes, causing its shares to trade lower.
August 21, 2023 | 3:58 pm
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Nikola Corporation's stock is trading lower following the announcement of a $325 million senior convertible notes sale.
The sale of senior convertible notes often leads to dilution of existing shares, which can negatively impact the stock price. This is likely the reason for the drop in Nikola Corporation's stock price.
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