Nikola Completes Exchange Offer to Acquire Romeo Power Common Stock
PHOENIX, Oct. 13, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA) ("Nikola"), a provider of zero-emissions transportation and energy infrastructure solutions, todayannounced the successful completion of its exchange offer (the "Offer") to purchase all outstanding shares of common stock of Romeo Power, Inc. (NYSE: RMO).
- PHOENIX, Oct. 13, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA) ("Nikola"), a provider of zero-emissions transportation and energy infrastructure solutions, todayannounced the successful completion of its exchange offer (the "Offer") to purchase all outstanding shares of common stock of Romeo Power, Inc. (NYSE: RMO).
- As of the expiration of the Offer, a total of approximately 93.16 million shares of Romeo common stock had been validly tendered and received, and not validly withdrawn, pursuant to the Offer, representing approximately 50.1% of outstanding shares of Romeo common stock immediately after consummation of the Offer.
- Nikola intends to proceed with the acquisition of Romeo in which a newly formed subsidiary of Nikola will be merged into Romeo, and any remaining shares of Romeo common stock that were not tendered in the exchange offer will be canceled and converted into the right to receive the same consideration as provided for in the exchange offer.
- Once the transaction is completed, Romeo will become a wholly owned subsidiary of Nikola and Romeo common stock will no longer be listed or traded on the New York Stock Exchange.