Electric truck maker Nikola won shareholder approval to issue new stock, the company said late on Thursday.
Nikola was forced to adjourn its annual meeting in June, and again in July, after the total votes fell short of the number required to pass the proposal.
That proposal also passed, but not until after Nikola adjourned last year's annual meeting three times to drum up more votes.
However, that law changed on Aug. 1, and now only a simple majority of shares voted is required to approve an increase in authorized shares.
Nikola had originally asked shareholders to approve the proposal ahead of its June 6 annual meeting.
Persons:
Nikola, Trevor Milton, Milton
Locations:
U.S, Canada, Delaware