(Reuters)

Electric-vehicle maker Nikola Corp has delayed its shareholder meeting for the third time since June, giving shareholders more time to weigh a proposal to raise the number of outstanding shares.

The meeting has been adjourned to August 2, the company said today (July 18).

The meeting was first pushed back on June 1 after Chairman Stephen Girsky urged voters to authorise an increase in shares by 200 million to 800 million.

“As of July 18, the company is less than 0.5 per cent short of the outstanding shares needed to be voted in favor for Proposal 2 to pass, which equates to less than 1.6 million shares needed,” Nikola said in a statement.