Nikola Corporation (NKLA)

[Scandle34]

That would make no financial sense. Anyone that understood the options available would choose cashless exercise, so there would be the appearance of dilution (to the float, not the market cap) with no cash in.

More likely, it would cause shorts to see the company as already in need of cash when they claimed to be flush on $700M.

Finally, anyone with any risk aversion would just sell off the warrants before the deadline.

There is no good ending to that path at this point.