---
schema_version: "secwatch.filing_event.v1"
accession: "0001731289-23-000093"
form_type: "8-K"
ticker: null
cik: "0001731289"
company_name: "Nikola Corp"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:40:44.529308+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Nikola issues $15M in Series B-2 convertible notes due May 2024

## Summary
- Issued $15M principal of 5% senior convertible notes; net proceeds ~$14.7M.
- Notes mature May 10, 2024, convertible into common stock at formula-based conversion price.
- Interest payable quarterly in cash, shares, or mix; rate increases to 12.5% on default.
- Part of $125M purchase agreement from Dec 2022; this is second tranche under amended terms.

## SEC filing metadata
- accession: 0001731289-23-000093
- form_type: 8-K
- cik: 0001731289
- company_name: Nikola Corp
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1731289/000173128923000093/0001731289-23-000093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1731289/000173128923000093/nkla-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731289-23-000093
- JSON: https://secwatch.observer/filing/0001731289-23-000093.json
- Plain text: https://secwatch.observer/filing/0001731289-23-000093.txt

## Key facts
- Debt Financings
  Nikola Corp incurred senior notes of $15,000,000 in aggregate principal amount with Wilmington Savings Fund Society, FSB at 5.0% per annum maturing May 10, 2024.
  - Instrument: senior notes
  - Principal: $15,000,000 in aggregate principal amount
  - Counterparty: Wilmington Savings Fund Society, FSB
  - Rate: 5.0% per annum
  - Maturity: May 10, 2024
  - Event: incurrence
  source text: On May 10, 2023, Nikola Corporation (the “Company”) consummated the sale of $15,000,000 in aggregate principal amount of series B-2 senior convertible notes (the “Series B-2 Notes”) to an investor
  evidence_url: https://www.sec.gov/Archives/edgar/data/1731289/000173128923000093/0001731289-23-000093-index.htm
- Material Agreements
  Nikola Corp entered into Second Supplemental Indenture and Series B-2 Senior Convertible Notes with Wilmington Savings Fund Society, FSB valued at $15,000,000 in aggregate principal amount of series B-2 senior convertible notes (effective 2023-05-10).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Savings Fund Society, FSB
  - Value: $15,000,000 in aggregate principal amount of series B-2 senior convertible notes
  - Effective: 2023-05-10
  source text: On May 10, 2023, Nikola Corporation (the “Company”) consummated the sale of $15,000,000 in aggregate principal amount of series B-2 senior convertible notes (the “Series B-2 Notes”) to an investor (the “Offering”) party to that certain Securities Purchase Agreement, dated as of December 30, 2022, as amended on March 16, 2023 (as amended, the “Purchase Agreement”), which covers the sale of up to an aggregate of $125,000,000 in principal amount of senior convertible notes (the “Notes”), in a registered direct offering.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1731289/000173128923000093/0001731289-23-000093-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.