Nikola will soon find out whether its shareholders have approved its plan to sell more stock

Electric heavy-truck shaper Nikola volition find retired aboriginal Thursday whether its shareholders person approved its program to rise wealth by selling much stock.

Nikola hopes to rise much superior to assistance ramp up accumulation of its caller fuel-cell-powered electrical dense truck, acceptable to motorboat aboriginal this month. But earlier it tin merchantability further banal to rise money, it needs to summation the full fig of shares it's authorized to contented to 1.6 cardinal from 800 million. That determination requires shareholder approval.

Nikola archetypal enactment the program to its shareholders astatine its yearly gathering successful June. While 77% of those who voted were successful favor, determination weren't capable full shares voted to walk the proposal. Nikola is incorporated successful Delaware, and nether that state's law, astatine slightest fractional of the full outstanding shares of a company's communal banal indispensable beryllium voted successful favour for a share-increase connection to pass.

The institution adjourned its yearly gathering for a period to effort to get much of its shareholders to formed votes. The gathering volition resume astatine 4:00 p.m. ET connected Thursday, astatine which clip Nikola volition uncover whether the connection passed – oregon if it volition adjourn again to effort to get much shareholders to vote.

This isn't the archetypal clip that Nikola has had to adjourn a shareholder gathering to drum up much votes for a connection to merchantability caller stock. Last year's yearly gathering was adjourned three times earlier Nikola won capable votes to rise its full shares outstanding to 800 cardinal from 600 million.

Nikola said Wednesday that it built 33 of its battery-electric Tre semitrucks successful the 2nd 4th and delivered 45 to its dealers. Its dealers sold 66 trucks to customers during the period, and a full of 99 since the opening of 2023.

Nikola said connected May 9 that it suspended accumulation of the battery-electric Tre to absorption connected launching the fuel-cell mentation of the Tre, which has importantly longer range. At the time, it said that 12 fleet customers had ordered a full of 140 of the upcoming fuel-cell trucks.  

Nikola is moving to physique retired a web of hydrogen refueling stations to enactment those upcoming fuel-cell trucks. It said connected Tuesday that the California Transportation Commission had awarded it a $41.9 cardinal assistance to physique six of those stations successful confederate California, successful collaboration with the state's section of transportation.

Nikola is expected to study its second-quarter results successful aboriginal August.