Nikola Corporation (symbol: NKLAQ) filed its Annual Report describing a Chapter 11 liquidation and wind-down after selling substantially all assets and ceasing truck manufacturing and sales. The Bankruptcy Court confirmed a Plan of Liquidation with a written order entered on 2025-09-12, under which all common stock and equity securities will be cancelled and holders will receive no distribution. The company disclosed material impairments recorded in 2024, including a $284.3M long‑lived asset impairment, a $47.2M indefinite‑lived intangible impairment, and a $5.2M goodwill impairment. Cash flows from financing were $174.4M in 2024 (versus $743.0M in 2023) and the aggregate market value of non‑affiliate voting stock was approximately $395.8 million as of 2024-06-28.
The report notes delisting from Nasdaq effective 2025-04-14, fewer than 300 shareholders as of 2025-01-02, and that the company has ceased operations and is implementing the Plan of Liquidation upon satisfaction of conditions to the Effective Date.