Nikola plans to complete a 1 for 30 reverse stock split on June 25, 2024. All holders of NKLA will receive 1 share of NKLA in exchange for every 30 NKLA shares held at the close of trading on June 24, 2024.

This will affect all NKLA shareholders. Due to this reverse stock split, scheduled orders for NKLA will not be accepted between market close on June 24, 2024 and market open on June 25, 2024.

What does this mean?

With the reverse stock split, NKLA shares will be combined into larger pieces. This will increase the price of each share. To ensure that all shareholders’ value remains the same, Nikola shareholders will have their share quantity reduced.

How will this impact your holdings?

Your total number of NKLA shares will decrease while the price per share will increase.

For example: if you have 30 shares of Nikola stock, during this 1 for 30 reverse stock split, NKLA will grant you 1 share in exchange for every 30 shares you own. However, the value of each share should initially be around 30 times the original price. This will result in you holding a smaller number of total shares, with each share being worth a greater value.

Once the reverse split is completed, 1 NKLA share will be equivalent to 30 original NKLA shares.

How can you calculate the number of shares you will own?

To calculate the number of shares that you will own after the split, follow the math below:

Shares previously owned x 1/30 = New amount of shares held

For example:
Before the split you owned 60 shares of Nikola.
Use the equation above (60 previously owned shares x 1/30)
You now own 2 shares of Nikola.

Note: Nikola’s historical graphs will be updated to take the split into account.

If you have more questions regarding this reverse stock split and how it may affect shares you’re holding, please refer to Nikola’s Investor Relations website.

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