secwatch.observer — SEC 8-K summary
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Issuer:     Nikola Corp (—)
CIK:        0001731289
Form:       8-K
Filed at:   2025-02-19T23:59:59+00:00
Accession:  0001731289-25-000004
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 2.04, 2.06, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nikola files Chapter 11 bankruptcy, seeks Section 363 asset sale
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- Company filed voluntary Chapter 11 petitions on Feb 19, 2025 with ~$47M cash on hand.
- Debt accelerated: $31.78M (June 2022 Notes) + $12.39M (June 2023 Notes) plus accrued interest.
- Retention bonus program approved for key employees: 10%-50% of base salary, max $500K each.
- Limited service and HYLA fueling operations to continue through March 2025; partners needed thereafter.
- CEO Steve Girsky cited 3.3M fleet miles and 330+ metric tons hydrogen dispensed as milestones.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1731289/000173128925000004/0001731289-25-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1731289/000173128925000004/nkla-20250218.htm
  HTML page:      https://secwatch.observer/filing/0001731289-25-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer