Nikola Tre BEV
Courtesy: Nikola
Electric truck maker Nikola won shareholder approval to issue new stock, the company said late on Thursday.
The vote paves the way for Nikola to raise additional funds to support the launch of its fuel-cell-powered electric Tre semitruck and the buildout of a hydrogen refueling network in the U.S. and Canada.
related investing news
Nikola was forced to adjourn its annual meeting in June, and again in July, after the total votes fell short of the number required to pass the proposal. The company’s founder and former chairman and CEO, Trevor Milton, had lobbied against the proposal in a series of social media posts.
Milton resigned in 2020, but he still owns about 7.5% of Nikola’s shares and has the right to vote another 5.8% via an investment vehicle he co-owns. He was convicted in October on three counts of fraud related to his time at Nikola and is due to be sentenced on Sep. 22.
Milton tried to block a similar share-increase proposal last year. That…
2023-08-03 15:35:36
Link from www.cnbc.com