Nikola strikes second deal with Tumim Stone Capital to sell $300 million stock By Reuters
(Reuters) – Electric truck maker Nikola Corp said on Monday it had entered into another deal with Tumim Stone Capital to sell $300 million of its stock, taking the total to up to $600 million.
According to filings made earlier in June, Nikola, a Phoenix-based company, entered into a share agreement with Tumim. According to the agreement, Tumim committed to purchasing up to $300,000,000 of Nikola’s stock.
Nikola issued close to $47 million in common stock since the original agreement.
New York-based investor 3i (LON:) is the manager and general partner of Tumim Stone Capital.
“The equity lines with Tumim, together with estimated cash and cash equivalents, will provide Nikola with access to approximately $800 million of liquidity at the end of 2021,” Nikola Chief Executive Officer Mark Russell said in a statement.
On Monday, Nikola’s shares were almost 1.5% lower in premarket trades.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.