Nikola Corporation (NKLA)

[mejerrylee]

VectoIQ estimates that the per-share pro rata portion of the trust account will be approximately $10.36 at the time of the special meeting, based on the approximate amount of $238.4 million held in the trust account as of March 31, 2020. The closing price of VectoIQ’s common stock on April 17, 2020 was $11.74. Accordingly, if the market price were to remain the same until the date of the special meeting, exercising redemption rights would result in a public stockholder receiving $1.38 less for each share than if such stockholder sold the shares in the open market. VectoIQ cannot assure stockholders that they will be able to sell their shares of VectoIQ common stock in the open market, even if the market price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in its securities when such stockholders wish to sell their shares.

From the proxy statement