Nikola aims to raise $100 million for construction, other uses, in stock sale
by Andy Blye | Phoenix Business Journal
Nikola Corp. recently filed paperwork with the Securities and Exchange Commission indicating that it planned to raise $100 million in an upcoming sale of common stock.
Nikola (NASDAQ: NKLA) said it intended to use the proceeds from the sale for general corporate purposes, noting the money may be used in the completion of the Arizona manufacturing facility which is underway in Coolidge, south of Phoenix in Pinal County.
The filing also noted funds may be used for developing the commercial scale of its battery electric vehicles (BEVs) and fuel cell electric vehicles as well as its hydrogen station infrastructure. The final share price and number of shares being offered have not yet been finalized.
