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Nikola announces merger with publicly traded company

Posted by   /  March 3, 2020  /  No Comments

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By Rofida Khairalla | Coolidge Examiner

PHOENIX — An electric vehicle manufacturer with plans to develop a 1-million-square-foot manufacturing facility in Coolidge will go public through a merger with an acquisition company. 

Early Tuesday morning Nikola Motor Company announced that it had entered into a definitive agreement with VectoIQ Acquisition Corp., a publicly-traded special purpose acquisition company, to form a new company specializing in the development of advanced transportation. 

The merger will result in a combined company known as Nikola Corporation. Upon closing, the enterprise’s combined value will be an estimated $3.3 billion.   

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