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Nikola’s stock slides 4% premarket after company unveils $325 million convertible bond deal

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An earlier version of this report had an error in the sum to be raised. It’s $325 million. The article has been corrected. Nikola Corp.’s stock slid 4% in...

An earlier version of this report had an error in the sum to be raised. It’s $325 million. The article has been corrected.

Nikola Corp.’s stock NKLA, +4.81% slid 4% in premarket trade Monday, after the electric truck maker announced plans to offer $325 million in senior convertible bonds in a registered direct offering. The company said in a regulatory filing that it expects to close an initial sale of $125 million in principal on Monday. The company expects net cash proceeds from the initial closing of about $124.5 million. The stock has fallen 9% in the year to date, while the S&P 500 SPX, -0.

 

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