Nikola Corporation plans to voluntarily delist from Nasdaq and deregister with the SEC
Nikola Corporation has made a significant announcement regarding its decision to voluntarily delist from the Nasdaq and deregister with the SEC. The company plans to file a Form 25 Notification of Delisting with the Securities and Exchange Commission on or around April 3, 2025. This filing will result in the removal of Nikola’s securities from listing and registration on the Nasdaq. The trading of Nikola’s common stock was previously suspended by Nasdaq on February 26, 2025, prompting Nikola to take this voluntary action in order to file a Form 15 for deregistration with the SEC.
In addition to this recent development, Nikola had previously disclosed on February 19, 2025, the filing of voluntary chapter 11 petitions for relief under Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware. Once the Nasdaq delisting through Form 25 is finalized, Nikola plans to proceed with filing a Form 15 to deregister with the SEC.
Nikola Corporation is a prominent truck and energy company that specializes in battery-electric and hydrogen fuel cell electric trucks, as well as hydrogen refueling ecosystems. The company is headquartered in Phoenix, Arizona, with its manufacturing facility located in Coolidge, Arizona. This move to voluntarily delist from the Nasdaq and deregister with the SEC represents a strategic decision for Nikola in light of its recent financial circumstances.
This press release outlines that while Nikola is taking concrete steps to initiate these processes, there are inherent risks and uncertainties associated with such actions. These risks include the timing and outcomes related to the Bankruptcy Filing, the duration of Nikola’s operation under Chapter 11 of the Bankruptcy Code, and the availability of operating capital during this period. Furthermore, the impact of these filings on the trading price and volatility of Nikola’s common stock, as well as potential distributions to stakeholders, are all factors that contribute to the complexity of the situation.
As Nikola Corporation navigates through its intended delisting from the Nasdaq and deregistration with the SEC, the company emphasizes the importance of proactive communication and transparency. The overarching goal is to provide stakeholders with accurate and timely information throughout this process. While these actions are significant, Nikola remains steadfast in its commitment to operational efficiency and financial stability amid these changes in its corporate structure.
The decision to delist from the Nasdaq and deregister with the SEC underscores Nikola Corporation’s dedication to addressing its financial obligations and restructuring its operations for long-term sustainability. The company’s integrated approach to truck and energy solutions through its focus on electric and hydrogen-powered vehicles highlights its commitment to innovation and environmentally conscious practices in the transportation industry.
