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Nikola founder Trevor Milton votes against issuing new shares

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© Reuters. FILE PHOTO: Trevor Milton, founder and former-CEO of Nikola Corp., exits the Manhattan Federal Courthouse following an look in New York Metropolis, U.S., July 29, 2021. REUTERS/Eduardo Munoz

(Reuters) – Nikola Corp’s founder Trevor Milton voted towards the electrical automobile firm’s proposal to situation new shares on the firm’s annual common assembly, a Bloomberg Information report on Thursday, citing sources.

Milton’s vote, which threw the result into doubt, led to the choice to right away adjourn the assembly, with a purpose to enable the corporate time to solicit extra proxies in favor of the proposal, the report stated.

The electrical-truck maker stated in a submitting it adjourned the assembly to June 30 to solicit proxies to maneuver forward with the proposal to extend the corporate’s frequent inventory to 800,000 from 600,000.

Nikola declined to touch upon the matter and Milton’s legal professional didn’t instantly reply to a Reuters request for remark.

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