Written by Cláudio Afonso | LinkedIn | X
The truck manufacturer Nikola said on Monday it has been awarded a Sourcewell contract for Class 8 battery-electric and hydrogen fuel cell electric vehicles.
Nikola stock closed 9.4% lower on Monday after the truckmaker disclosed in a new SEC filing a purchase agreement with investors to sell up to $160 million in convertible senior notes. Additionally, the manufacturer also filed a shelf registration to sell shares up to $500 million, including debt securities.
The contract offers state and local agencies across the country to purchase Nikola’s battery electric and fuel cell trucks through a Sourcewell-vetted contract, streamlining the public purchasing process.
Sourcewell is a government agency that makes buying easier and cheaper by combining the purchasing power of more than 50,000 participating agencies meeting the requirements for schools, government, and non-profits.
After delivering 40 fuel cell trucks in the first quarter of the year and 72 in the second one, the Arizona-based company is targeting annual deliveries to be between 300 and 350 units.
Written by Cláudio Afonso | LinkedIn | X
