Deal Details

Nikola Corporation (“Nikola” or the “Company”) (NASDAQ: NKLA) recently completed a follow-on offering of the Company’s common stock (the “Offering”). The aggregate size of the Offering was 133,333,334 shares at a price of $0.75 per share, generating gross proceeds of $100.0 million. Concurrent with the follow-on offering, Nikola completed a convertible notes offering of $175.0 million aggregate principal amount of 8.25% Green Convertible Senior Notes due 2026 (the “Notes”).

Nikola intends to use the net proceeds from this Offering for working capital and other general corporate purposes. In addition, Nikola intends to allocate an amount equal to the net proceeds from the Notes offering to finance, refinance or make direct investments in, in whole or in part, one or more new or recently completed current or future eligible projects (such projects, “Eligible Green Projects”).

Baird served as an active bookrunner on this Offering.