Nikola (NKLA) Partner Hanwha Enters Plan to Sell Up to 11M Shares, or Half its Stake

In a 13D/A filing, Nikola (NASDAQ: NKLA) holder and partner, Green Nikola Holdings LLC (GNH)/Hanwha, disclosed it entered into a Stock Sales Agreement with Morgan Stanley & Co. LLC, pursuant to which Morgan Stanley is authorized to sell up to 11,065,190 shares of Common Stock on behalf of GNH in a manner intended to qualify for the affirmative defense provided by Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended.

If completed, the sale would represent half of the group's 22,130,385 shares.

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