Hyperdrive
Nikola Founder Beseeches Investors to Use Warrants or Lose Them
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Electric-car startup Nikola Corp. is anxiously urging stragglers to exercise their right to buy shares -- even after a deadline for exchanging warrants has passed.
The maker of battery-electric and hydrogen-fuel-cell big rigs took steps in June that would enable it to force investors to redeem their warrants early after a surge in its share price following its merger with a blank-check company on June 4. Nikola has said the proceeds will help boosts its limited cash on hand as it moves to make good on plans to launch its first vehicles.