Nikola said Thursday that it now needs less than 1% of the outstanding shares for its proposal to increase the authorized number of shares to be approved. The approval will provide the company “more flexibility to support the future growth and development of the business,” the company said. Nikola shareholders have until July 17 at 11:59 PM ET to vote the proposals.
“With the support of our stockholders, Nikola is now less than 1% short of the outstanding shares needed to be voted in favor for Proposal 2 to pass. Proposal 2 is important as it will allow Nikola to increase the authorized number of shares of common stock it can issue from 600 million to 800 million, providing the Company more flexibility to support the future growth and development of the business,” the company said.
Earlier this week, Nikola announced it will report its second-quarter financial results on August 4 followed by a conference call and webcast at 9:30 a.m. ET with the management team. The company announced a Q&A platform to allow verified retail and institutional investors to submit and upvote questions that will be answered by the management.
Recently, the company unveiled that its Nikola Tre battery-electric vehicle is eligible for the New York Truck Voucher Incentive Program (NYTVIP) giving the purchasers the option for an incentive valued at up to $185,000 per truck, with a scrappage requirement. Nikola Tre BEV is expected to have the longest range among the current HVIP and NYTVIP eligible zero-emission Class 8 tractors.
The program provides vouchers, or discounts, to fleets across New York State that purchase or lease medium- and heavy-duty zero-emission battery electric vehicles (BEV). Administered by the New York State Energy Research and Development Authority (NYSERDA), NYTVIP helps make it easier for fleets to adopt zero-emission vehicle technologies by significantly reducing upfront costs.