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Hydrogen Truckmaker Nikola Listing On Nasdaq Via Surprise Merger With VectoIQ Worth $3.3 Billion

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The Arizona startup developing futuristic semi-trucks powered by hydrogen fuel cells and batteries is listing shares in an unusual merger with former GM Vice Chairman Steve Girsky's publicly traded acquisition firm

Nikola, Anheuser-Busch

Upon completion of the merger, VectoIQ’s Nasdaq ticker of VTIQ will change to NKLA, the companies said. Proceeds from the transaction are to be used mainly to fund Nikola’s operations and growth and come through a combination of VectoIQ’s cash in trust and a $525 million private placement of common stock at $10 per share, a move led by Fidelity, ValueAct Spring Fund and P. Schoenfeld Asset Management. Completion of the merger should happen in the second quarter, the companies said.

 

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Nice

It's going to receive a special place on as the future is here zeroemissions ❤

Physics of this idea so much better then massive amounts of liquid electrolyte fire prone Tesla batteries in rough duty conditions. Question is where get Hydrogen to fuel ?

I think after listing Nikola will get huge capital / funds to set up a large scale production unit

hindenburg omen

Pretty sure they decided on the name Nikola because Tesla was already taken. LOL

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