Electrical heavy truck maker Nikola stated Thursday that its deliberate acquisition of battery-pack maker Romeo Energy will now proceed, after Romeo Energy shareholders agreed to tender simply over half of the corporate’s excellent shares.

In August, Nikola stated it had agreed to accumulate Romeo Energy, a California-based maker of battery modules that has been struggling financially, for $144 million in inventory. However the deal was contingent on a young supply to Romeo shareholders: Traders needed to “tender,” or alternate, no less than half of Romeo’s shares excellent by midnight Wednesday for the deal to proceed.

Nikola stated that 93.16 million Romeo shares, representing about 50.1% of the corporate’s complete shares excellent, had been tendered by the deadline – simply sufficient to finish the deal.

The remaining shares of Romeo Energy will now be “canceled and transformed” to shares of Nikola, with Romeo shareholders receiving 0.1186 of a Nikola share for every share of Romeo they maintain, Nikola stated.

Romeo Energy makes a speciality of constructing battery modules and packs for big electrical business autos, utilizing lithium-ion battery cells made by different firms. Nikola, which expects to ship between 300 and 500 of its electrical semitrucks by year-end, is Romeo’s largest buyer.

Nikola stated in August that it had agreed to supply Romeo with $35 million in interim funding to proceed its operations till the merger is accomplished. The truck maker has stated that bringing Romeo’s operations in-house might put it aside as much as $350 million over the following 4 years.

Shares of the corporate fell greater than 3% in premarket commerce Thursday.

Nikola will report its third-quarter outcomes earlier than the U.S. markets open on Nov. 3.