Former Nikola CEO Milton Sold $55 Million In Stock, Bought Three Properties

On the present time in ” turn sources that produce not exist into sources that stay” files…

It became reported the day gone by that disgraced founder and extinct CEO of Nikola, Trevor Milton, had bought 3.2 million shares of Nikola stock while light on the corporate in portray to consummate “three real-estate transactions” and purchase three various properties.

As fragment of the transactions, Milton’s LLC gave the shares on December 3 to the sellers of three piece of precise estate, including a sprawling $32 million ranch Milton bought in Utah. 

It looks Milton bought about $55 million worth of stock on the corporate’s lockup expiration date closing week, in accordance to SEC filings. And voila! That makes three more pieces of precise estate than Nikola autos bought, as Hindenburg Analysis’s Nathan Anderson notorious on Twitter on Monday. 

— Nate Anderson (@ClarityToast) December 8, 2020

Bloomberg reported on Monday that Milton says he is “committed to his Nikola Corp. keeping and doesn’t conception to relinquish his dwelling as its finest shareholder”.

It’s a observation that sounds reassuring, but doesn’t necessarily preclude Milton from promoting more shares sooner than turning into the 2nd finest holder of Nikola stock. He might maybe presumably maybe light promote “millions of shares” and be the corporate’s finest holder, Bloomberg notorious.

It’s improbable how well-known Trevor Milton has already made out of $NKLA

— Joe Weisenthal (@TheStalwart) December 8, 2020

Milton’s lockup expired closing week, on the identical day the corporate launched that GM would not be taking an fairness stake. Milton has the flexibility to now hit the voice with 91.6 million shares if he needs. In a CNBC interview two weeks within the past, Nikola CEO Tag Russell “did not guarantee” merchants on each a GM deal and the postulate that Milton would not straight hit the voice when given the possibility. 

Nikola partner Bosch furthermore cut again its stake within the corporate to below the 5% reporting threshold closing week after its portion lockup expired.

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