(AOF) – Nikola Corporation, the American manufacturer of electric and hydrogen vehicles, today delivered the price of a public subscription offer and a simultaneous direct offer of 1.12 dollars per share. The company will sell 29,910,715 common shares to the public under the public offering and 59,374,999 common shares to an investor under the concurrent direct offering, pursuant to a forward share purchase agreement. Gross proceeds from the two transactions, before fees, amount to $100 million.
The public offering is expected to close around April 4, 2023 and the concurrent direct offering around April 11, 2023, subject to customary closing conditions.
Nikola currently intends to use the net proceeds from these transactions for working capital and other general purposes.
Nikola has further granted the underwriter a 30-day option to purchase up to an additional 4,486,607 shares of its common stock at the public offering price.
AOF – LEARN MORE
A paradoxical performance
Data from EY highlights that the performance of the world’s top 16 manufacturers was particularly strong in 2021. While the average margin has fallen for three years in a row, from 6.3% in 2017 to just 3.5% in 2020 , this margin stood at 8.5% in 2021. This level is a record for ten years. However, the context was particularly hectic for manufacturers, faced with unprecedented shortages of components. Global sales fell 14% in 2020, the year of the health crisis, to rebound by only 5% in 2021. However, last year, players were able to reap the benefits of their efforts on their fixed cost structure. .