Nikola skids on plan to sell $100 mln of stock

Nikola

09/12/2024 14:18

**  Shares of electric truck maker Nikola  NKLA.O  down 5%
before the bell to $1.53 as it looks to raise equity
  
    ** NKLA set to open at fresh low. Stock hit intraday record
low of $1.60 on Fri
  
    ** Phoenix, Arizona-based firm  up to $100 mln ATM
("at-the-market) equity sales program to be handled by BTIG
  
    ** Co says plans to use net proceeds from any sales to 
  
    
      
    
  
    ** As of Oct 28, co had ~60.9 mln shares outstanding
  
    ** Through Fri close, stock has lost 94% of value this year
    
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
(( lance.tupper@tr.com 1-646-279-6380))