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

📆 8/21/2023 8:14 AM
📰 MarketWatch

⏱ Reading Time:
25 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Now’s the time to own dividend-paying stocks. These 5 offer up to a 9% yield.Over the long run, 40% of stock-market gains come from dividends.
Source: MarketWatch - 🏆 3. / 97 Read more »

Why AI-generated stock picks won't beat the marketAI can’t know more than the market knows. The best it can hope to do is to match the market over the long term.
Source: MarketWatch - 🏆 3. / 97 Read more »