secwatch.observer — SEC 8-K summary
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Issuer:     Nikola Corp (—)
CIK:        0001731289
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001193125-23-088273
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nikola raises $100M in equity and exchanges $100M of notes in restructuring deals
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- Raised $100M gross from public offering and direct offering at $1.12/share; proceeds for working capital and general corporate purposes.
- Exchanged $100M of existing convertible notes for new 8%/11% PIK Series B notes due 2026; conversion rate 686.8 per $1,000.
- Public offering closes April 4; direct offering and note exchange close on or about April 11.
- Citigroup is sole book-runner for the public offering.
- Supplemental indenture amends existing notes to limit conversion and require cash settlement until stock authorization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1731289/000119312523088273/0001193125-23-088273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1731289/000119312523088273/d446990d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-088273

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