Nikola Completes Acquisition of Romeo Power

PHOENIX, – October 14, 2022 -- Nikola Corporation (Nasdaq: NKLA) (“Nikola”), a provider of zero-emissions transportation and energy infrastructure solutions, today announced the completion of its acquisition of Romeo Power, Inc. (“Romeo”). “We are pleased to complete the acquisition of Romeo and look forward to executing on the opportunities ahead,” said Michael Lohscheller, Nikola’s President. “The acquisition of Romeo will enhance Nikola’s capabilities, allowing us to vertically integrate in an effort to accelerate product development and improve performance for our customers. Each remaining share of common stock of Romeo not purchased in the exchange offer (other than any shares owned by Nikola, Romeo or any of their respective subsidiaries) was converted into the right to receive the same 0.1186 of a share of Nikola common stock, rounded down to the nearest whole share, subject to reduction for any applicable withholding taxes, paid in the exchange offer. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona.