Wednesday, August 3, 2022

Romeo Power Acquired By Nikola For $144M

Los Angeles-based battery systems developer Romeo Power has been acquired by electric heavy truck maker Nikola, in a deal worth $144M, the two companies said on Monday. Nikola will pay 74 cent per share for Romeo Power. As part of the deal, Nikola is providing $35M in interim funding to Romeo Power so it can continue its operations until the acquisition closes.