Continued focus on regaining Nasdaq
compliance and resetting operational and financial
foundations to achieve the next level of financial
stability while advancing business initiatives
PHOENIX, April 30,
2024 /PRNewswire/ -- In a recent social media post,
Nikola Corporation (Nasdaq: NKLA), a global leader in
zero-emissions transportation and energy supply and infrastructure
solutions, via the HYLA brand, invited NKLA stockholders
to submit questions related to the Proxy Statement filed earlier in
the month. Steven Shindler, Chairman
of the Board at Nikola, recorded a video addressing key questions
about Proposal 2, which includes a reverse stock split.
The video addresses one of the five proposals to be voted on at
the June 5, 2024, Annual Stockholder
Meeting. The full video and transcript of the interview can be
accessed here.
In the video, Shindler elaborated on the rationale behind
Proposal 2 — the recommendation of a reverse split:
"We must eliminate the distraction of delisting and position
ourselves to raise capital more efficiently and effectively. We
believe that if we can achieve a share price at a more consistent
level with the Russell 3000 companies, it will encourage investor
interest and improve the marketability of our common stock to an
even broader range of investors."
Among the questions addressed by Shindler were:
- What is a reverse split and how does it impact NKLA
stockholders and the company?
- Why is a reverse split being proposed now?
- What are the advantages of a reverse split?
Proposal 2 is up for a vote of stockholders following extensive
analysis and consultations with financial advisors to explore
options for regaining compliance with Nasdaq listing rules and the
need to secure future capital to sustain the company's
business.
NKLA stockholders are encouraged to VOTE IN FAVOR of all
five proposals, notably for each of the Nikola nominees for the
Board of Directors in Proposal 1, and the anticipated positive
impact of the reverse stock split in Proposal 2 in addressing
potential delisting concerns and resetting the company's financial
foundation.
Nikola invites NKLA stockholders to continue submitting
questions, as ongoing communications are planned to provide answers
to those most frequently asked.
For other company updates, please join the Nikola Q1 2024
earnings call on Tuesday, May 7.
Every vote matters. Stockholders must ACTIVELY
VOTE by 11:59 p.m., Eastern Time, on
June 4, 2024, for their vote to
count. Stockholders as of the close of business on
April 19, 2024, are entitled to vote,
even if they no longer own the shares.
Voting is quick and simple:
- BY PHONE: Call Alliance Advisors, Nikola's proxy
solicitor, toll-free at (855) 935-2562 if in North America. International voters can call
+1 (551) 210-9929. You can also contact Alliance Advisors if you
have any questions about voting.
- BY EMAIL: Message Alliance Advisors at
nkla@allianceadvisors.com.
- BY INTERNET: Vote at www.proxyvote.com using your
control number by following the instructions shared by your broker,
bank or other nominee.
-
- If you are a Robinhood holder, proxy voting emails are sent
by noreply@robinhood.com and voting is hosted by Say
Technologies. You will be able to vote and view materials directly
from your email.
The 2024 Annual Meeting of Stockholders will be held virtually
on Wednesday, June 5, 2024, at
1:00 p.m., Pacific Time via live
audio webcast. To attend the meeting, register in advance
at www.viewproxy.com/nkla/2024 by 11:59 p.m., Pacific Time on June 4, 2024.
ABOUT NIKOLA CORPORATION
Nikola Corporation's mission is clear: pioneering solutions for a
zero-emissions world. As an integrated truck and energy company,
Nikola is transforming transportation and over-the-road freight
services. With our Class 8 vehicles, including battery-electric and
hydrogen fuel cell electric trucks, and our energy brand, HYLA, we
are driving the advancement of the complete hydrogen refueling
ecosystem. This encompasses supply, distribution, and dispensing,
reflecting our commitment to sustainable practices and a cleaner
future.
Nikola is based in Phoenix,
Ariz. with a manufacturing facility in Coolidge, Ariz.
Experience our journey to achieve your sustainability goals
at nikolamotor.com or engage with us on social media
via Facebook @nikolamotorcompany,
Instagram @nikolamotorcompany,
YouTube @nikolamotorcompany,
LinkedIn @nikolamotorcompany or
X/Twitter @nikolamotor.
FORWARD-LOOKING STATEMENTS
This communication contains
certain forward-looking statements within the meaning of federal
securities laws with respect to Nikola Corporation (the "Company"
or "Nikola"). Forward-looking statements are predictions,
projections, and other statements about future events based on
current expectations and assumptions that are not historical fact
and, as a result, are subject to risks and uncertainties.
Forward-looking statements include but are not limited to: the
Company's future financial outlook and future business performance;
and the Company's beliefs regarding the potential benefits of a
reverse stock split, including its potential effect on the
Company's stock price, Nasdaq listing, the ability to increase
investor interest and facilitate raising future capital and other
intended benefits. Risks and uncertainties that may cause actual
results to differ include factors generally affecting the business,
operations, and financial condition of the Company; the actual
effect of any reverse stock split on the Company's stock price; the
ability of the Company to attract additional investors; and the
factors, risks and uncertainties described in the "Risk Factors"
section of the Company's Annual Report on Form 10-K for the year
ended December 31, 2023, as amended,
filed with the Securities and Exchange Commission (the "SEC"), in
addition to the Company's subsequent filings with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events to differ materially
from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date of this press
release. Readers are cautioned not to put undue reliance on
forward-looking statements, and, except as required by law, the
Company assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise.
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SOURCE Nikola Corporation