This is the best summary I could come up with:

After three attempts, EV truck maker Nikola was able to get enough shareholders to vote on a proposal that will allow it to potentially raise more capital.

Nikola said Thursday it received the requisite number of votes to pass a proposal that authorizes the board to issue more shares, and potentially raise more money to keep its operations running.

It’s unclear if the company was able to secure more than 50% of all outstanding shares to vote in favor of the proposal or if it benefited from a recent change in Delaware law.

Under the change that went into effect August 1, companies incorporated in Delaware that want to increase the number of shares would only need to receive a simple majority of the votes cast.

Nikola is among a group of EV and mobility startups that went public via mergers with special purpose acquisition companies before generating revenue.

In May, the company laid off 270 employees, or about 23% of its workforce, and announced plans to restrict electric truck efforts to North America.

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