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Nikola acquires Romeo Power

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Nikola has acquired Romeo Power.

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“We are pleased to complete the acquisition of Romeo and look forward to executing on the opportunities ahead,” said Michael Lohscheller, Nikola’s president. “The acquisition of Romeo will enhance Nikola’s capabilities, allowing us to vertically integrate in an effort to accelerate product development and improve performance for our customers. Today’s milestone further solidifies our commitment to transforming the transportation industry.”

Nikola completed Romeo’s acquisition through a second-step merger of a wholly-owned subsidiary of Nikola with and into Romeo. Nokia converted each remaining share of Romeo’s common stock not purchased in the exchange offer (other than any shares owned by Nikola, Romeo or any of their respective subsidiaries) into the right to receive the same 11.86% of a single share of Nikola’s common stock, rounded down to the nearest whole share, subject to reduction for any applicable withholding taxes, paid in the exchange offer.

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