Nikola delays shareholder meeting to drum up support to issue more shares

Troubled electric truck maker Nikola adjourned its annual meeting to July 18, giving the company time to lobby shareholders to pass a money-raising measure to issue more shares of common stock.
Nikola said the proposal is crucial to support the growth of the business. The company has been slowed in bringing its Tre semi truck to market by a string of controversies stemming from its founder Trevor Milton, which resulted in his removal as CEO and a $125 million penalty to the U.S. Securities and Exchange Commission for deceiving investors.
Nikola initially held annual shareholder meeting June 1.

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