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[ad_1] Nikola TRE FCEV2 Courtesy: Nikola Electric truck maker Nikola is still short of winning shareholder approval to issue new stock and has once again adjourned its annual meeting to try to win more support, the company said on Thursday. Nikola had adjourned its June 6 annual meeting until Thursday to try to drum up more support for the proposal. Current law in Delaware, where Nikola is incorporated, requires approval from owners of at least 50% of the company's outstanding shares to pass a share increase proposal. However, that law may change on Aug. 1. Under amendments approved by Delaware's state legislature and now awaiting signature by the state's governor, a company incorporated in the state will need only a simple majority of shares voted to approve an increase in authorized shares. Nikola's meeting is now adjourned again until 4 p.m. ET on Aug. 3, when the new rule may be in effect. Nikola said that proposal would have passed on Thursday had the new ru...

[ad_1] Nikola TRE FCEV2 Courtesy: Nikola Electric heavy-truck maker Nikola will find out later Thursday whether its shareholders have approved its plan to raise money by selling more stock. Nikola hopes to raise more capital to help ramp up production of its new fuel-cell-powered electric heavy truck, set to launch later this month. But before it can sell additional stock to raise money, it needs to increase the total number of shares it's authorized to issue to 1.6 billion from 800 million. That move requires shareholder approval. Nikola first put the plan to its shareholders at its annual meeting in June. While 77% of those who voted were in favor, there weren't enough total shares voted to pass the proposal. Nikola is incorporated in Delaware, and under that state's law, at least half of the total outstanding shares of a company's common stock must be voted in favor for a share-increase proposal to pass. The company adjourned its annual meeting for a month to t...

[ad_1] People walk by electric truck maker Rivian's newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023 in New York City. Spencer Platt | Getty Images Shares of Rivian Automotive jumped 17.4% on Monday after the electric vehicle maker beat Wall Street expectations for quarterly deliveries. Rivian on Monday reported 12,640 vehicle deliveries during the second quarter, up 59% from the previous quarter and topping analyst expectations of 11,000 vehicles, according to estimates compiled by FactSet. The automaker, which makes electric R1T pickups and R1S SUVs for consumers, also reiterated its annual production target of 50,000 units. Rivian produced roughly 23,400 vehicles through the second quarter, including electric delivery vans and consumer models. The increase in the share price Monday pushes Rivian's stock into the green for the first time since late February. The stock is up about 5% in 2023. Rivian closed Monday at $19.56 per share – th...