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Nikola’s bid to increase shares stalls after failing to get enough shareholders to vote


Nikola failed to get enough investors to vote on a proposal that would allow the beleaguered electric truck company to issue more shares — and, in turn, raise more capital.
Nikola adjourned its annual meeting of shareholders Wednesday until July 6 in an attempt to secure the requisite number of votes needed to add shares to the marketplace. Nikola needs to secure more than 50% of all outstanding shares to vote in favor of the proposal, which is a higher bar than other proposals would need to reach.
The failure comes at a pivotal time for the company. Nikola said it’s only weeks away from the initial commerc …

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