The preparation and characterization of two NiII complexes are described, a terminal NiII–OH complex with the tripodal ligand tris[(N)-tertbutylureaylato)-N-ethyl)]aminato ([H3buea]3−) and a terminal Ni II–OH2 complex with the tripodal ligand N,N′,N″-[2,2′,2″-nitrilotris(ethane-2,1-diyl)]tris(2,4,6-trimethylbenzenesulfonamido) ([MST]3−). For both complexes, the source of the –OH and –OH2 ligand is water. The salts K2[NiIIH3buea(OH)] and NMe4[NiIIMST(OH2)] were characterized using perpendicular-mode X-band electronic paramagnetic resonance, Fourier transform infrared, UV-visible spectroscopies, and its electrochemical properties were evaluated using cyclic voltammetry. The solid state structures of these complexes determined by X-ray diffraction methods reveal that they adopt a distorted trigonal bipyramidal geometry, an unusual structure for 5-coordinate NiII complexes. Moreover, the NiII–OH and NiII–OH2 units form intramolecular hydrogen bonding networks with the [H3buea]3− and [MST]3− ligands. The oxidation chemistry of these complexes was explored by treating the high-spin NiII compounds with one-electron oxidants. Species were formed with S = 1/2 spin ground states that are consistent with formation of monomeric NiIII species. While the formation of NiIII–OH complexes cannot be ruled out, the lack of observable O-H vibrations from the putative Ni–OH units suggest the possibility that other high valent Ni species are formed.