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NIKOLA CORPORATION

(NKLA)
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Nikola : strikes second deal with Tumim Stone Capital to sell $300 million stock

09/27/2021 | 09:03am EDT
FILE PHOTO: U.S. Nikola's logo is pictured at an event held to present CNH's new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin

(Reuters) - Electric truck maker Nikola Corp said on Monday it had entered into another deal with Tumim Stone Capital to sell $300 million of its stock, taking the total to up to $600 million.

Phoenix, Arizona-based Nikola entered into a share deal with Tumim, according to a filing earlier in June. Under the agreement, Tumim had committed to purchase up to $300 million of Nikola's common stock.

Since entering into the first agreement, Nikola has issued nearly $47 million of common stock to Tumim.

New York-based investor 3i is the manager and general partner of Tumim Stone Capital.

"The equity lines with Tumim, together with estimated cash and cash equivalents, will provide Nikola with access to approximately $800 million of liquidity at the end of 2021," Nikola Chief Executive Officer Mark Russell said in a statement.

Shares of Nikola were down nearly 1.5% in premarket trading on Monday.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Maju Samuel)


© Reuters 2021
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Analyst Recommendations on NIKOLA CORPORATION
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Financials (USD)
Sales 2021 4,77 M - -
Net income 2021 -548 M - -
Net cash 2021 744 M - -
P/E ratio 2021 -7,87x
Yield 2021 -
Capitalization 4 252 M 4 252 M -
EV / Sales 2021 736x
EV / Sales 2022 26,1x
Nbr of Employees 450
Free-Float 49,5%
Chart NIKOLA CORPORATION
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Nikola Corporation Technical Analysis Chart | NKLA | US6541101050 | MarketScreener
Technical analysis trends NIKOLA CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 10,60 $
Average target price 13,88 $
Spread / Average Target 30,9%
EPS Revisions
Managers and Directors
Mark A. Russell President, Chief Executive Officer & Director
Kim J. Brady Chief Financial Officer
Stephen J. Girsky Chairman
Dane Davis Chief Technology Officer
Isaac Sloan Chief Information Officer & Software Architect
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