NKLA - Nikola adjourns vote on adding more shares to July 18

Nikola Corporation ( NASDAQ: NKLA ) adjourned its shareholder meeting once again to vote on Proposal 2 to increase the number of outstanding shares to 800M from 600M.

The new vote is set for July 18 to give shareholders more time to register their votes

The company said Nikola stockholders have voted overwhelmingly in favor of Proposal 2, with the exception of the vote of a stockholder who appears to represent more than 85% of the votes against Proposal 2.

NKLA statement: "Approving Proposal 2, which requires a majority of all outstanding common stock to pass, is very important. As of this morning, more than 48% of all outstanding shares have been voted in favor of Proposal 2, leaving less than 2% of outstanding shares to be voted in favor for this proposal to pass. More than 112 million shares have not yet been voted."

Nikola founder Trevor Milton is the largest holder of Nikola ( NKLA ) stock.

Last week, the Department of Justice charged Milton in a superseding indictment of defrauding the prior owner of his Utah ranch. Milton is already scheduled to go on trial next month on charges he generally misled investors about the state of Nikola's ( NKLA ) business.

Shares of Nikola ( NKLA ) rose 3.71% in mid-day trading on Thursday.

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