INVESTORS
  • NASDAQ: NKLA$45.96-$0.01
  • FAQs & Resources
      News, Events & Presentations
    Stock
    1.  How do I buy Nikola stock?
    Nikola’s stock is publicly traded on the NASDAQ under the ticker symbol NKLA. To purchase shares in Nikola you can do so through your brokerage firm.
    2.  What is the difference between NKLA and NKLAW?
    NKLA = Nikola common stock NKLAW = Warrant to purchase Nikola common stock
    Warrants
    1.  When can I exercise my public warrants?
    Warrants become exercisable after the latter of 1) July 6, 2020 or 2) the date Nikola’s S-1 (Filed 6/15/20) is declared effective by the SEC. Public warrants may not be exercised for cash until the later to occur of July 3, 2020 and the date on which our registration statement covering the shares issuable upon exercise of the public warrants has been declared effective by the SEC. As with all registration statements, the registration statement will not be declared effective by the SEC until the SEC completes any review of the registration statement and declares it effective. The warrants will expire at 5:00 p.m., New York City time, on July 3, 2025 or earlier upon our redemption of the warrants or our liquidation. In addition, public warrants may not be exercised for cash unless the registration statement covering the shares issuable upon exercise of the warrants is effective and current and the prospectus relating to those shares is current. If the registration statement covering the issuance of the shares issuable upon exercise of the public warrants is not effective by September 1, 2020, warrant holders may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration statement or a current prospectus, exercise warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act of 1933. If an exemption from registration is not available, holders will not be able to exercise their warrants on a cashless basis.
    2.  If I own a Nikola warrant (NKLAW) , does that mean I have the right to buy a share of Nikola common stock (NKLA) for $11.50?
    Yes. Each Nikola warrant (NKLAW) gives the holder the right to buy Nikola common stock (NKLA) for $11.50. (1 NKLAW = 1 NKLA).
    3.  What is the strike price of the warrants?
    Warrants have a strike price of $11.50 per share. Each warrant can be exercised for 1 share of NKLA.
    4.  What is the term of the warrant?
    Each warrant has a 5-year term from the closing date of the merger, subject to the company’s redemption right, which allows Nikola to redeem outstanding warrants if its common stock trades at, or above, $18.00 for 20 days out of 30 trading day period.
    5.  How do I exercise my warrants?
    If you hold warrants and have funds available in your brokerage account ($11.50 per warrant) to satisfy the warrant strike price, you may exercise warrants by contacting your personal brokerage firm (e.g., Fidelity, Charles Schwab, etc.) and notifying them of your intent to exercise your warrants.
    6.  After I notify my broker of my intent to exercise (which can only be exercised after Nikola’s S-1 is declared effective), what is the process?
    1. Notify your broker of your intent to exercise 2. Provide $11.50 per warrant to your broker 3. Your broker will then forward $11.50 per warrant to the Depository Trust Company (DTC) and notify them of your intent to exercise 4. DTC will then credit your broker the underlying common shares for each warrant exercised on your behalf. 5. Your broker will then have the ability to distribute the underlying shares into your brokerage account. 6. Each brokerage firm, following its own process and timeline, will then distribute underlying shares into your account (often on the same day the warrant was exercised, but not always. Each broker’s process is different). 7. Once the underlying common shares are distributed into your account by your broker, these shares should be immediately tradable. For any questions about the process outlined above, specifically, with respect to the exercise and distribution of shares, please reach out to your broker for further details.
    7.  After I exercise my warrants, how soon will I be able to trade the underlying common shares?
    Upon 1) exercise by the warrant holder, and 2) upon delivery of underlying common shares to your broker, common shares are expected to be immediately tradable.
    8.  So a warrant gives me the right, but not the obligation, to buy the common stock of Nikola for $11.50 per share. What does this mean, how do the economics work?
    Yes. Each warrant gives the holder the right to buy the common stock for $11.50 per share. This allows warrant holders to buy NKLA for $11.50. For example, if you purchase a warrant in the open market, which gives you the right to purchase Nikola common stock for $11.50 per share, you would have the ability to own NKLA for (A) the open market price paid for the warrant + (B) $11.50 per share (exercise price of the warrant).
    9.  Where can I find more information about NKLA Warrants?
    Please find the warrant agreement below which is also attached as exhibit 4.3 of the 8-K filed with the SEC on June 8th, 2020. [WARRANT AGREEMENT - Exhibit 4.3 of 8-k filed with the SEC on June 8th, 2020](https://www.sec.gov/Archives/edgar/data/1731289/000110465918034840/a18-13902_1ex4d1.htm)
    WARRANT REDEMPTION PROCESS
    1.  I received a warrant redemption notice, what does this mean?
    As outlined in the Warrant Agreement, the Company has the right to redeem public warrants if the closing price of the Common Stock is at or above $18.00 per share on each of twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date of the warrant redemption notice. This requirement has been satisfied and the Company has chosen to redeem all outstanding public warrants. Per the warrant agreement, the Company is required to give warrant holders 30-day notice of our intent to redeem the outstanding public warrants. Based on the date of the redemption notice that was provided to warrant holders on July 22, 2020, the last day to exercise public warrants is August 21, 2020. Any warrant that is unexercised and outstanding after this 30-day period ending August 21, 2020, will be redeemed by the Company for $0.01 in accordance with the terms outlined in the Warrant Agreement.
    2.  What will happen if I do not exercise my warrants by the end of the 30-day period ending August 21, 2020?
    Any warrant that is unexercised and outstanding after this 30-day period ending August 21, 2020, will be redeemed by the Company for $0.01 in accordance with the terms outlined in the Warrant Agreement.
    3.  If I have further questions on how to exercise my warrants?
    Questions about how to exercise warrants should be directed to your broker. Your broker will then work with DTC (Depository Trust Company), and the transfer agent, Continental Stock & Trust Company, to resolve any issues during the exercise process. Nikola is not involved in the warrant exercise process.
    Merger with VectoIQ
    1.  Who is VectoIQ (VTIQ)?
    VectoIQ is a special purpose acquisition company formed for the purpose of acquiring a business, with a focus in industrial technology, transportation and smart mobility industries. On June 3rd, 2020 Nikola and VectoIQ consummated a business combination agreement and on June 4th, 2020 legacy VTIQ shares began trading on the NASDAQ under NKLA/NKLAW. Legacy are now automatically owners of NKLA/NKLAW.
    2.  What was the implied enterprise value of Nikola when it announced the merger with VectoIQ on March 2, 2020?
    The implied enterprise value of Nikola at the time of the merger announcement was approximately $3.3 billion, or $10.00 per share.
    3.  How many shares of NKLA did VTIQ shareholders receive at the close of the merger?
    At the merger close date shares of VectoIQ (VTIQ) become shares of Nikola (NKLA) on a 1:1 basis (1 share of VTIQ = 1 share of NKLA).
    4.  Did Nikola raise additional capital in the merger?
    Yes, VectoIQ and Nikola raised $525 million in a fully committed private placement at $10.00 per share from institutional investors, including Fidelity, ValueAct Spring Fund, and P. Schoenfeld Asset Management. The private placement is subject to customary closing conditions, including the completion of the merger. In addition to the net proceeds of the amount raised in the private placement, Nikola retained cash from VectoIQ’s trust account of approximately $238 million.
    5.  Who will be the management team of Nikola Corporation?
    Trevor Milton will be the Executive Chairman of Nikola Corporation. Mark Russell will be the President and Chief Executive Officer. Kim Brady will be the Chief Financial Officer of the combined entity.
    6.  How will VectoIQ be involved with the business post-close?
    Stephen Girsky, the current CEO of VectoIQ, will join Nikola’s Board of Directors.
    7.  How is Nikola’s current ownership broken out as a result of the merger with VectoIQ?
    Assuming no redemptions, current public VectoIQ shareholders will own approximately 6.4%, and VectoIQ sponsor shareholders will own approximately 1.9% of Nikola. Post-merger, existing Nikola shareholders will own approximately 77.1%, and PIPE investors will own approximately 14.6% of Nikola. |Shareholder Group | Number of Shares* | % Ownership*| |:------|:-------:|--------:| | Legacy Public VectoIQ shareholders | 23.0 million | ~6.4% | | Legacy VectoIQ sponsor shareholders | 6.6 million | ~1.9% | |Legacy Nikola shareholders | 278.8 million | ~77.1% | | PIPE investors | 52.5 million | ~14.6% | | **Shares Outstanding**** | **360.9 million** | **~100%** | *Shares and percentages are approximate. **Shares outstanding do not include warrants or employee stock options.
    8.  Important Information and Where to Find It:
    In connection with the planned business combination between Nikola Corporation (“Nikola” or the “Company”) and VectoIQ Acquisition Corp. (“VectoIQ”) and related transactions (collectively, the “Proposed Transactions”), VectoIQ has filed a registration statement on Form S-4, including a proxy statement/prospectus/information statement (the “Registration Statement”), with the SEC and declared effective by the SEC on May 8, 2020, and has mailed a definitive proxy statement/prospectus/information statement to holders of VectoIQ’s common stock in connection with VectoIQ’s solicitation of proxies for the vote by VectoIQ’s stockholders with respect to the Proposed Transactions and other matters as described in the Registration Statement, including a prospectus relating to the offer of the securities to be issued to the Company’s stockholders in connection with the Proposed Transactions, and an information statement for Company’s stockholders regarding the Proposed Transactions. Investors and security holders and other interested parties are urged to read the definitive proxy statement/prospectus/information statement, and any other documents filed with the SEC when they become available, carefully and in their entirety because they contain important information about VectoIQ, the Company and the Proposed Transactions. Investors and security holders may obtain free copies of the definitive proxy statement/prospectus/information statement and other documents filed with the SEC by VectoIQ through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: VectoIQ Acquisition Corp., 1354 Flagler Drive, Mamaroneck, NY 10543.