Nikola Corp. shares edged down 5.7% to $1.32 in aftermarket trading Thursday following a public offering for up to $100 million of its common stock and a forward stock purchase agreement with an investor.
The electric vehicle maker said, concurrent with its public offering, that it entered into an agreement with an investor who has agreed to purchase up to $100 million of its common stock from Nikola in a concurrent registered direct offering at the public offering price.
Nikola said it intends to use the net proceeds for working capital and other general corporate purposes.