Alta Expands Nikola Dealer Network To Arizona

• Alta Equipment Group Inc (NYSE:ALTG) has secured the Arizona sales and service territory for Nikola Corp (NASDAQ:NKLA). Deal terms not disclosed.
• The arrangement expands Alta's dealer territory with Nikola beyond the NY, NJ, eastern PA, and New England markets and replaces Empire Transport in Arizona.
• The first Nikola product Alta will sell is the Tre battery-electric vehicle (BEV).
• "We are excited to be granted this new territory as it gives us the opportunity to deepen our relationship with Nikola, especially given their headquarters and US manufacturing facility is in Arizona," said Ryan Greenawalt, CEO of Alta.
• Price Action: ALTG shares traded higher by 1.96% at $12.20 and NKLA higher by 0.11% at $9.21 on the last check Wednesday.