secwatch.observer — SEC 8-K summary
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Issuer:     Nikola Corp (—)
CIK:        0001731289
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001193125-23-102137
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nikola exchanges $100M notes, issues Series B convertibles; three directors to retire
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- Completed exchange of $100M aggregate principal amount of Existing Notes for new 8.00%/11.00% Series B Convertible Senior PIK Toggle Notes due 2026.
- Notes bear interest at 8% cash or 11% PIK, mature May 31, 2026; conversion rate 686.8132 per $1,000 principal.
- Conversion limited until stockholder approval; cash settlement required prior to Authorized Share Effective Date.
- Three directors (Lynn Forester de Rothschild, Gerrit A. Marx, Mark A. Russell) retiring at 2023 annual meeting.
- Notes issued in private placement under Section 4(a)(2) of Securities Act to Antara Capital LP.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1731289/000119312523102137/0001193125-23-102137-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1731289/000119312523102137/d417696d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-102137

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