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bankruptcy protection WednesdayTechCrunch
•Technology
Technology
71% Informative
Nikola plans to go to auction with its assets pending court approval.
The company has about $47 million in cash on hand to fund its bankruptcy process.
Nikola was once a Silicon Valley darling, valued at $30 billion in June 2020 .
A series of scandals surrounding its founder and former CEO Trevor Milton put the company into free fall.
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