Benzinga | Dec 21, 2021 07:13AM EST

Nikola Confirms Settlement Agreement With SEC; Co. Agrees To Pay $125M In Five Installments Over Two Years

PHOENIX, Dec. 21, 2021 /PRNewswire/ -- Nikola Corporation (NASDAQ:NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced a resolution with the U.S. Securities and Exchange Commission. As part of the resolution, Nikola has agreed to pay $125 million to the SEC in five installments over two years. The first installment will be paid by the end of 2021, and the remaining installments will be paid semiannually through 2023. The company previously disclosed on November 4, 2021 that it had taken a $125 million reserve in its third quarter earnings to account for the expected settlement.