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Nikola Founder Sold 3.5 Million Shares at $13.89 Each

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By Niki Koswanage

April 3, 2021 at 4:35 AM UTC

This article is for subscribers only.

Former Nikola Corp chairman and founder Trevor Milton sold 3.5 million shares in the electric-truck startup for $13.89 apiece on Wednesday, according to an SEC filing.

Milton, who stepped down in September amid federal probes into allegations of deception, is the largest shareholder in Nikola. Data compiled by Bloomberg shows he owns about 21% of the company.