(Reuters) – Electric-vehicle maker Nikola Corp has delayed its shareholder meeting for the third time since June, giving shareholders more time to weigh a proposal to raise the number of outstanding shares.
The meeting has been adjourned to Aug. 2, the company said on Monday.
The meeting was first pushed back on June 1 after Chairman Stephen Girsky urged voters to authorize an increase in shares by 200 million to 800 million.
“As of July 18, the company is less than 0.5% short of the outstanding shares needed to be voted in favor for Proposal 2 to pass, which equates to less than 1.6 million shares needed,” Nikola said in a statement.
(Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath)
