Shares of electric truck maker Nikola (NKLA) are plunging 15% after the company announced plans to raise $100 million in a 澳洲幸运5官方开奖结果体彩网:secondary stock offering and possibly a private sale of stock to an unnamed investor if the offering raises less ꧃than $100 million.

The secondary offering, announced on Thursday, was priced at $1.12 a share, 20% below the stock's closing price of $1.40. Citigroup, which is 澳洲幸运5官方开奖结果体彩网:underwriting the offering, also has the option to buy an additional $15 million worth of Nikola shares.

Nikola says it will use the funds for working capital and other general purchases. The company had just $233 million in cash available at the end of last year, after losing $222 million in 🦋the fourth quarter of last year.

Last year, Nikola built just over 250 electric trucks. The company 😼says it h♈opes to build up to 350 new trucks this year. 

Nikola shares are down 46% so far this year and have lost 🦩about 89% of their val🦩ue over the past year.