The shares are listed on Nasdaq

Davis Polk advised the underwriter in connection with an SEC-registered public 29,910,715 shares of Nikola Corporation common stock. Davis Polk also advised the placement agent in connection with a concurrent SEC-registered direct offering of 59,374,999 shares of Nikola common stock to an institutional investor. Nikola will receive an aggregate of $100 million of gross proceeds from the offerings. Nikola’s common stock is listed on the Nasdaq Stock Market under the ticker “NKLA.”

Nikola Corporation is a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems and hydrogen station infrastructure. Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Stephen A. Byeff and associate Christopher Piazza. The tax team included partner Patrick E. Sigmon and associate Liang Zhang. The intellectual property team included partner Frank J. Azzopardi and associates Alison T. Chin and Lauren Nathan. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.

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