{"id":231030,"date":"2025-02-19T21:53:52","date_gmt":"2025-02-20T01:53:52","guid":{"rendered":"https:\/\/inspenet.com\/noticias\/nikola-corporation-begins-sale-process-after-filing-for-bankruptcy\/"},"modified":"2025-02-22T14:44:56","modified_gmt":"2025-02-22T18:44:56","slug":"nikola-corporation-begins-sale-process-after-filing-for-bankruptcy","status":"publish","type":"noticias","link":"https:\/\/inspenet.com\/en\/news\/nikola-corporation-begins-sale-process-after-filing-for-bankruptcy\/","title":{"rendered":"Nikola Corporation begins sale process after filing for bankruptcy"},"content":{"rendered":"\n

Transportation vehicle manufacturer Nikola Corporation<\/strong> has filed voluntary petitions under Chapter 11<\/em> of the Bankruptcy Code<\/strong> in the United States Bankruptcy Court<\/strong> for the District of Delaware. This decision registers the beginning of an auction and sale process under Section 363<\/em> of the United States Bankruptcy Code, with the goal of maximizing the value of its assets. <\/p>\n\n

The start of the comprehensive sale process of Nikola Corporation<\/h2>\n\n

The company has asked the Court for permission to pursue a number of customary \u201c first day<\/em> \u201d motions to allow it to continue its limited operations<\/strong> , including permission to fulfill its obligations to employees during the sale process. It also intends to continue certain service and support operations, as well as the fueling<\/a><\/strong> activities of its HYLA brand, through the end of March 2025. <\/p>\n\n

\n

With the dedication of our employees and the support of our partners, Nikola has taken significant steps to advance zero-emission transportation, including bringing to market the first commercially available Class 8 hydrogen fuel cell electric trucks in North America and developing the HYLA hydrogen refueling highway, connecting Northern California to Southern California.<\/p>\nSteve Girsky, President and CEO of Nikola.<\/cite><\/blockquote>\n\n

With approximately $47 million in cash, Nikola plans to fund the aforementioned activities, implement the sale process and emerge from Chapter 11 through a planning and restructuring process.<\/p>\n\n

Despite efforts to raise capital and reduce liabilities, multiple macroeconomic and market factors have impacted the Company’s ability to operate. The Board has determined that Chapter 11 represents the best possible path<\/strong> forward under these circumstances. <\/p>\n\n

Nikola, together with its financial and legal advisors, conducted a thorough analysis of all available alternatives to maintain its operations. After months of active research, it was concluded that a structured sale process is the best option to maximize the value of the company’s assets. The company intends to market and sell all of its assets,<\/strong> carrying out an orderly wind-down of its businesses. <\/p>\n\n

The proposed tender procedures, if approved by the Court, would allow interested parties to submit binding offers to acquire Nikola’s assets, free and clear of debt and certain liabilities. Interested parties may include both strategic and financial buyers, who will have extensive due diligence documentation. <\/p>\n\n

For more information regarding this process and the proposed asset sale<\/strong> , interested parties may visit the website of Epiq Corporate Restructuring<\/em> , the Debtors\u2019 notice and claims agent. Nikola\u2019s legal counsel is Pillsbury Winthrop Shaw Pittman<\/em> and Potter Anderson & Corroon<\/em> , its investment banker is Houlihan Lokey Capital<\/em> , and its financial advisor is M3 Partners<\/em> . <\/p>\n\n

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Source and photos: Nikola<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

After months of active searching, it was concluded that a structured sales process is the best option to maximize the value of the company’s assets.<\/p>\n","protected":false},"author":8404,"featured_media":231025,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categoria_noticias":[13030,13062],"etiqueta_noticias":[],"class_list":["post-231030","noticias","type-noticias","status-publish","has-post-thumbnail","hentry","categoria_noticias-industry","categoria_noticias-transport"],"acf":[],"_links":{"self":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias\/231030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias"}],"about":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/types\/noticias"}],"author":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/users\/8404"}],"replies":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/comments?post=231030"}],"version-history":[{"count":0,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias\/231030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/media\/231025"}],"wp:attachment":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/media?parent=231030"}],"wp:term":[{"taxonomy":"categoria_noticias","embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/categoria_noticias?post=231030"},{"taxonomy":"etiqueta_noticias","embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/etiqueta_noticias?post=231030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}