NKLA - Nikola attracts $200M investment from institutional investor

Nikola Corporation (NASDAQ:NKLA) announced that an institutional investor Antara Capital has agreed to make a $200 million investment in Nikola through the purchase of convertible senior notes. The notes are due in 2026 and will bear interest at a rate of 8.00% if paid in cash or at a rate of 11.00% through the issuance of additional notes at NKLA's election. The notes will be convertible at an initial conversion price to be determined prior to closing. The initial conversion price will represent a 30% premium to the lower of Nikola's volume-weighted average price over a pre-determined time period between this announcement and closing of the notes and the closing price of Nikola stock on the last trading day prior to the date of this announcement, but will not be lower than 110% of such closing price. Nikola CEO Mark Russell said the company believes that it is at an inflection point

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Nikola attracts $200M investment from institutional investor