Scramble for Buyers as Sale Process Unfolds
Nikola, working alongside investment bankers at Houlihan Lokey, has been actively seeking buyers for its assets. However, attempts to sell the company as a whole have so far failed. Now, the automaker is negotiating with three potential acquirers while simultaneously marketing its vehicle production and energy infrastructure divisions as separate entities.
The first bankruptcy hearing is scheduled for Thursday, Feb. 20, before U.S. Bankruptcy Judge Thomas M. Horan in Wilmington, Delaware.
Legal Counsel and Next Steps
Nikola is represented by Potter Anderson & Corroon LLP attorneys M. Blake Cleary, Brett M. Haywood, Maria Kotsiras, and Shannon A. Forshay, along with Pillsbury Winthrop Shaw Pittman LLP lawyers Joshua D. Morse, Jonathan R. Doolittle, Andrew V. Alfano, Caroline Tart, and Chazz C. Coleman.
The coming weeks will determine whether Nikola can find a buyer or be forced into piecemeal liquidation—potentially marking the final chapter for the once-promising electric truck startup.
