Done Deal: VectoIQ's Merger With Nikola Motor Has Closed
VectoIQ Acquisition (NASDAQ: VTIQ) said on Wednesday that its much-anticipated merger with electric heavy-truck maker Nikola Motor has closed, a day after its shareholders voted to approve the transaction.
The deal provides Nikola with more than $700 million in new cash, much of it from a related "PIPE" (private investment in public equity) transaction where investors, including Fidelity Investments and hedge-fund manager P. Schoenfeld Asset Management, bought shares of the combined company at a discounted price.
Image source: Nikola Motor.
Source Fool.com
