Greenberg Traurig Assists VectoIQ Acquisition Corp. in $3 Billion Merger Agreement with Nikola Corporation
VectoIQ Acquisition Corp. II - Unit (VTIQU)
Company Research
Source: PR Web
MIAMI (PRWEB) March 05, 2020 Greenberg Traurig, P.A. Miami office Shareholder Alan I. Annex led a team of attorneys in the firm's representation of VectoIQ Acquisition Corp., a publicly-traded special purpose acquisition company (SPAC), in negotiating a merger agreement with Nikola Corporation, a leader in the design and development of BEV and FCEV class 8 semi-trucks. The combined company will be named Nikola Corporation and is expected to remain NASDAQ-listed under the new ticker symbol "NKLA." The new business will focus on the development of next generation smart transportation.The transaction reflects an implied enterprise value at closing of $3.3 billion. Cash proceeds raised in connection with the transaction will primarily be used to fund operations, support growth, and for other general corporate purposes. The deal will be funded through a combination of VectoIQ's cash in trust and a $525 million private placement of common stock at $10.00 per share led by institutional inve
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