Nikola Corporation

Nikola Corporation, founded in 2015, sought to transform the transportation industry through the development of zero-emission battery-electric and hydrogen fuel cell vehicles and infrastructure. Following an unsuccessful going concern sale effort in its Chapter 11 bankruptcy, Nikola engaged Hilco Streambank to market and sell its diversified portfolio of intangible assets, including a comprehensive ecosystem of web-based and mobile software applications, data analytics, and related IP to support its fleet of FCEV and BEV trucks, as well as patents, trademarks, and domain names.

Hilco Streambank assisted the Company and its advisors in identifying and preserving critical technical infrastructure necessary for the continued operation of the Company’s software solutions and maintenance of its data architecture. Our diligence led us to illuminate the key dependencies and synergies between Nikola’s digital assets and truck fleet. Hilco Streambank worked in close coordination with Gordon Brothers and Nations Capital to run parallel sale processes for the IP and truck fleet, ultimately creating greater buyer optionality and competitive tension. This strategy generated over a dozen non-binding offers across various intangible and tangible asset groupings.

We worked with the Company’s advisors to document a transaction and gain approval of the sale on an accelerated basis, ultimately achieving a total of $1.4 million in IP sale proceeds. The deal closed in August 2025 and underscores Hilco Streambank’s ability to quickly understand and preserve complex suites of software, to adapt and operate efficiently in rapidly developing circumstances, and to work closely in concert with third-party advisors to deliver value-maximizing outcomes.