Wednesday, December 1, 2021 12:36 pm

Nikola poised to become $11B public company

By Russ Wiles | The Republic

The Phoenix-based maker of zero-emission heavy trucks Nikola Corp. will become a publicly traded corporation later this week, possibly worth $11 billion or more, if a vote to approve its merger with another company succeeds as expected.

More than $700 million in proceeds from the reverse-merger transaction with VectoIQ Acquisition Corp. will allow Nikola to continue research in zero-pollution electric and hydrogen vehicles, break ground on a new Arizona factory in Coolidge and build a network of hydrogen fueling stations for semitrucks.

It also results in a new Arizona billionaire —Trevor Milton, who founded Nikola in 2015 and will hold about 42% of the combined company’s shares.

READ ON:

Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories