Romeo Power Inc - Ordinary Shares - Class A

NYSE:RMO   3:59:25 PM EDT
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Production Guidance, Mergers / Acquisitions

Nikola Agrees To Acquire Romeo Power, To Bring Battery Pack Engineering And Production In-House

Published: 08/01/2022 11:51 GMT
Romeo Power Inc - Ordinary Shares - Class A (RMO) - Nikola Agrees to Acquire Romeo Power, to Bring Battery Pack Engineering and Production In-house.
Nikola Corp - Transaction Expected to Yield Annual Cost Savings of Up to $350 Million by 2026.
Nikola Corp - Proposed Exchange Ratio Implies a Consideration of $0.74 per Romeo Share.
Nikola Corp - Romeo’s Cypress, California Facility Will Become Nikola’s Battery Center of Excellence.
Nikola Corp - Under Deal, Romeo Stockholders Will Receive 0.1186 of a Share of Nikola Common Stock for Each Romeo Share.
Nikola Corp - Agreed to Provide Romeo With $35 Million in Interim Funding to Facilitate Continued Operations Through Closing.
Nikola Corp - Additional Liquidity Support is Available in the Event the Transaction Closing is Delayed.
Nikola Corp - Upon the Successful Completion of the Exchange Offer, a Newly-formed Subsidiary of Nikola Will Be Merged Into Romeo.
Nikola- Upon Completion of Exchange Offer, Any Remaining Shares of Romeo Not Tendered in Exchange Offer to Be Canceled.
Nikola - Upon Completion of Exchange Offer , Shares of Romeo Not Tendered to Be Converted Into Right to Receive Same Consideration Payable in Offer.