Nikola to go public through $3.3bn merger with VectolQ

Nikola to go public through $3.3bn merger with VectolQ

Nikola Corporation has today announced a $3.3bn merger with publicly traded special purpose acquisition company VectolQ Acquisition Corp. that will allow the company to become the first publicly-traded hydrogen fuel cell and battery-electric heavy-duty truck manufacturer.

The combined company will be named Nikola Corporation and the VectoIQ stock symbol VTIQ is expected to be changed to NKLA on Nasdaq after completion of the merger.

The transaction is being funded through a combination of VectolQ’s cash in trust and a $525m private placement of common stock at $10 a share.

... to continue reading you must be subscribed

Subscribe Today

As part of our launch and mission to bring the hydrogen supply chain together, H2 View has been providing you with complementary access to all our content.

From 1st January 2020, however, you will need to subscribe to H2 View to continue to have access to this breadth of content – including insightful comment and analysis, value-added interviews and features, and thought-provoking columnists.

A subscription to H2 View enables you to access all online content, from the latest authoritative columnists to the H2 View news archive, as well print editions of H2 View magazine.

Please wait...