CNH Updates Investment in Nikola
08 June 2020
CNH Industrial N.V. said it now owns over 7% following a recent stock transaction. CNH made a $250 million investment, through its Iveco commercial vehicle segment, in Nikola.
Now, as a consequence of the June 3, 2020 completion of the previously announced merger between VectoIQ Acquisition Corp., and Nikola, former shareholders of Nikola received 1.901 shares of VectoIQ for every one share held in Nikola and became shareholders of VectoIQ. VectoIQ in turn, changed its name to Nikola Corp. Nikola Corp. shares began trading on Nasdaq under the new ticker symbol NKLA on June 4, 2020.
As a result of the Merger, Iveco now holds 25,661,449 shares of Nikola Corp., corresponding to approximately 7.11% of Nikola outstanding share capital.
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