“Nikola shares sink after its $100 million stock offering priced at 20% below market”
March 31, 2023
“Electric heavy-truck maker Nikola said that its planned $100 million secondary stock offering, announced on Thursday after U.S. markets closed, has priced at $1.12 per share – 20% below the stock’s closing price of $1.40. Shares fell more than 15% on Friday morning, hitting a new 52-week low…
Nikola had $233.4 million in cash and equivalents available as of Dec. 31. The truck maker lost $222.1 million in the fourth quarter of 2022…”
https://www.cnbc.com/2023/03/31/nikola-stock-sale-priced-below-market.html