Electric truck maker Nikola Corp (NASDAQ:NKLA) is planning to sell shares to raise US$$100mln.
The EV group is taking a two-pronged approach: It will offer stock to the public at US$1.12 a share but also has an unnamed private investor on hand to pick up the slack if the offering doesn't reach its target.
Citigroup is in charge of managing the sale for the public offering. This exciting development could mean big things for Nikola Corporation as it continues to grow in the electric truck industry.