Nikola Corp. NKLA said Monday that funds advised by Antara Capital LP have agreed to purchase $200 million of its convertible bonds.
Nikola stock rallied 0.14% in premarket trading.
The 8.00% / 11.00% notes that mature in 2026 will bear interest at a rate of 8% if paid in cash or 11% if paid through the issuance of additional notes.
Proceeds will be used along with other liquidity sources to finance expansion by scaling up truck manufacturing and tooling setup, accelerating the development of hydrogen infrastructure and for general corporate purposes.
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