Nikola Prices 133.333 Mln Share Offering, $175 Mln Of Convertible Senior Notes

(RTTNews) - Nikola Corporation (NKLA), an automaker, said on Friday that it has priced its concurrent public offering of 133.333 million shares at $0.75 per share and $175 million aggregate principal amount of 8.25 percent green convertible senior notes due 2026.

The issuance and sale of the shares and notes are scheduled to settle on December 12.

Nikola intends to use the net proceeds from the stock offering for working capital and other general corporate purposes, and allocate an amount equal to the net proceeds from the notes offering to finance, refinance, or make investments in projects.

BTIG is acting as lead book-running manager and representative for the offerings.

Baird, Bryan, Garnier & Co. and Wolfe | Nomura Alliance are acting as joint book-running managers for the offerings.