Nikola Corporation (NKLA)

[INV4]

Voted against the 'RS 1-for-10 and/or 1-for-30 proposal'. Because I think 1-for-10 and/or 1-for-30 is too much IMHO.

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NKLA Stock: Nikola Chairman Doubles Down on Need for Reverse Stock Split
Nikola seeks a reverse split in order to focus on its business operations

Apr 11, 2024, 12:32 pm

- Shareholders will vote on a reverse stock split proposal at Nikola’s (NKLA) upcoming annual meeting.

- Nikola seeks to reverse split its shares in a ratio between 1-for-10 and 1-for-30.

- NKLA stock is currently trading below the pivotal $1 level.

Nikola (NASDAQ:NKLA) stock is plunging lower by more than 10% after the company filed a proxy statement to document the proposals at its upcoming annual meeting of stockholders. These proposals include a reverse stock split in a range between 1-for-10 and 1-for-30 and reducing authorized common stock to 1 billion from 1.6 billion. The date of the meeting has not yet been confirmed.

Nikola also seeks to increase the common stock available for issuance under the Nikola Corporation 2020 Stock Incentive Plan by 130 million shares. This proposal cannot be enacted unless the reverse split proposal is approved.

https://investorplace.com/2024/04/nkla-stock-nikola-chairman-doubles-down-on-need-for-reverse-stock-split/

$NKLA