Nikola Initiates Comprehensive Voluntary Chapter 11 Sale Process

Provided By PR Newswire

Last update: Feb 19, 2025

Nikola to pursue value-maximizing sale transactions for its operations

PHOENIX, Feb. 19, 2025 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola has also filed a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code.