Nikola Corporation has announced plans to voluntarily file a Form 25 with the U.S. Securities and Exchange Commission on or around April 3, 2025, initiating the delisting of its securities from Nasdaq.
This move follows the trading suspension of Nikola’s common stock on February 26, 2025, and a prior notice from Nasdaq indicating that delisting procedures would begin.
Since Nasdaq has yet to file the Form 25, Nikola is taking the step itself in order to proceed with a Form 15 filing, which would formally deregister the company’s securities with the SEC.
READ MORE: Porsche Enhances PCM System with Improved Performance and New Features
This development comes shortly after Nikola and several of its U.S. subsidiaries filed for Chapter 11 bankruptcy protection in the District of Delaware on February 19, 2025. The company’s decision to delist and deregister signals a deeper shift as it navigates the bankruptcy process.
Once the Form 25 becomes effective, the company plans to move forward with the Form 15 filing to officially end its SEC registration.
Nikola, headquartered in Phoenix with manufacturing operations in Coolidge, Arizona, has focused on the production of battery-electric and hydrogen fuel cell trucks, as well as hydrogen refueling infrastructure.
The future of the company remains uncertain as it continues to operate under bankruptcy protection and manages the financial and operational challenges that come with it.
The company’s statement also cautioned that forward-looking plans such as these remain subject to risks, including the unpredictable outcomes of bankruptcy proceedings and the potential impact on stock price and future distributions to stakeholders.
READ MORE: Aston Martin Vanquish Volante: The World’s Fastest and Most Powerful Front-Engine Convertible
Subscribe today for the freshest car news delivered to your inbox
