Nikola's logo is pictured at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pincaadjourned its shareholder meeting on Wednesday after failing to garner enough support for a proposal to increase the number of shares the electric truck maker is allowed to issue, delaying its prospects of raising much-needed capital.
The company, like other electric vehicle makers, has been grappling with dwindling cash and weakening demand amid fears of a recession. It was doubling down onto limit its cash burn that was "not sustainable", its finance chief, Stasy Pasterick, told analysts last month.
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