1. Federal Inquiries, Allegations of Sexual Assault, a Resignation, and Billions on the Line: Here's Everything you need to Know About Nikola and its Founder's Controversial Last 5 Weeks

    Federal Inquiries, Allegations of Sexual Assault, a Resignation, and Billions on the Line: Here's Everything you need to Know About Nikola and its Founder's Controversial Last 5 Weeks

    In early September, automotive giant General Motors announced a $2 billion deal with electric-vehicle startup Nikola, with plans to produce the Nikola Badger, an electric pickup truck. But just two days after the deal was announced, a short seller released an explosive report claiming that Nikola faked its technological achievements, which spurred federal inquiries, a resignation, and speculation about the future of the deal...

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    1. On September 11, Nikola's legal counsel proactively contacted and briefed the U.S. Securities and Exchange Commission (SEC) regarding Nikola's concerns pertaining to the Hindenburg report.
    2. We're a very capable team that has done the appropriate diligence.
    3. Nikola is truly in my blood and always will be, and the focus should be on the Company and its world-changing mission, not me.
    4. At no point in his life has Mr. Milton ever engaged in any inappropriate physical contact with anyone.
    5. The Nikola Board first learned of these allegations, regarding conduct from before Nikola was founded, from tweets and media reporting that occurred subsequent to the company's announcement that Trevor Milton was stepping aside as Executive Chairman.
    6. The Nikola One truck was designed and patented by Nikola. It is commonplace to license third-party designs during vehicle development, and although early in the process, Nikola purchased a license to Adriano Mudri's designs.
    7. Our transaction with Nikola has not closed.
    8. The Badger was an interesting and exciting project to some shareholders, but our institutional shareholders are mostly focused on the business plan.
    9. Nikola continues to work with GM towards a closing and will provide further updates when appropriate or required.
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