Nikola Enters Second $300M Equity Purchase Agreement With Tumim

by Shivani Kumaresan, Benzinga Staff Writer

September 27, 2021 10:23 AM | 1 min read |

Nikola Corp NKLA entered into a second $300 million common stock equity line purchase agreement with Tumim Stone Capital LLC.
The agreement provides Nikola the right to issue and sell up to $600 million of its common stock to Tumim.
Since entering into the original equity line purchase agreement on June 11, 2021, Nikola has issued approximately $47 million of common stock to Tumim.
The shares will be issued at a 3% discount to the three-day forward volume-weighted average price from the date a purchase notice is given.
Price Action: NKLA shares are trading higher by 4.37% at $12.17 on Monday.

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