Benzinga | Sep 27, 2021 10:23AM EDT

Nikola Enters Second $300M Equity Purchase Agreement With Tumim

* Nikola Corp (NASDAQ:NKLA) entered into a second $300 million common stock equity line purchase agreement with Tumim Stone Capital LLC.

* The agreement provides Nikola the right to issue and sell up to $600 million of its common stock to Tumim.

* Since entering into the original equity line purchase agreement on June 11, 2021, Nikola has issued approximately $47 million of common stock to Tumim.

* The shares will be issued at a 3% discount to the three-day forward volume-weighted average price from the date a purchase notice is given.

* Price Action: NKLA shares are trading higher by 4.37% at $12.17 on Monday.