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Month: August 2023

Nikola stock rallies with plans to raise capital

Nikola stock rallies with plans to raise capital

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Nikola Corp. took a step toward stabilizing its finances Thursday after winning approval to issue new shares to raise capital.

The ability to issue new shares added to Nikola’s momentum in recent weeks, including winning critical grants to build out its hydrogen fueling network and booking new orders, including one from a large trucking company.

The approval was “critical for continued growth and success as we move forward with our strategic priorities, including autonomous technologies and software, our HYLA hydrogen ecosystem and the recent launch of the Nikola hydrogen fuel cell electric vehicle,” said Michael Lohscheller, Nikola’s CEO.

The Phoenix commercial fuel cell and electric truck maker has tried twice to get shareholders to approve issuing new stock only to fail to reach the required majority of all shareholders to move forward. But a change in Delaware corporate regulations on Tuesday allowed it to move forward.

The new regulation requires only a majority of shareholders to vote for approval instead of all shareholders. read more

People on the move

People on the move

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Construction

Rebecca Thomas was appointed chief executive officer at T&T Construction Management Group Inc., Casselberry.

Education

Loretta Ovueraye was hired as vice president of academic affairs at Seminole State College.

Health care

Dawn Beljin was appointed as division chief nursing executive for HCA Healthcare North Florida Division.

Law

Paul Scheck, a partner in Shutts & Bowen LLP’s Orlando office, was appointed chair of the executive council of The Florida Bar Trial Lawyers Section.

Nicolette Vilmos has joined Berger Singerman as a partner on the firm’s Business Reorganization and Dispute Resolution Teams.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.

Northrop Grumman shifting to Space Coast for future space station missions

Northrop Grumman shifting to Space Coast for future space station missions

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The launch this week of Northrop Grumman’s current version of its Antares rocket from Virginia will be its last for a while, with its resupply missions to the International Space Station shifting to the Space Coast later this year.

The company’s Cygnus spacecraft on the NG-19 mission launched atop the rocket from NASA’s Wallops Flight Facility in Virginia’s Eastern Shore on Tuesday carrying more than 8,200 pounds of science experiments and supplies for an ISS rendezvous planned for early Friday. The spacecraft on this flight is dubbed the S.S Laurel Clark in deference to the NASA astronaut who was one of seven who died on board Space Shuttle Columbia on STS-107 in 2003 more than 20 years ago.

This marks the 20th time a Cygnus spacecraft has flown during a 10-year run all launching from Antares rockets from Virginia and carting up more than 130,000 pounds of supplies during its missions.

But this most recent launch marks the final supply of the Russian-made RD-181 engines used on the rocket’s first stage. A major portion of that stage is also fabricated by a Ukrainian company, so with both a federal law requiring companies to shift to U.S.-based engines in place for certain missions, and supply chain issues related to the war in Ukraine, Northrop Grumman announced in 2022 it would partner with Firefly Aerospace to create a new version of its Antares rocket. read more