Nikola to Restate Some of Its Historical Financial Statements

Nikola Corp. said it will restate some of its historical financial results after a reevaluation of the company’s historical accounting of warrants.

• The company determined that the private warrants should have been classified as liabilities
• Financial statements for the year ended Dec. 31, 2020 and for the periods ended June 30, 2020 and Sept. 30, 2020 are among the periods to be restated
• Expects impact to total liabilities as of Dec. 31, 2020 to be an increase of $7 million to $8 million and a decrease to net loss for the year ended Dec. 31, 2020 of $12 million to ...