Canoo Inc., a company specializing in electric vehicle technology, has announced a direct offering of $17,500,000 of its common stock to YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP. This offering is connected to a series of agreements, including the Pre-Paid Advance Agreement (PPA) and various Supplemental Agreements, which allow Canoo to request advances up to a total commitment amount of $300,000,000 from YA. The most recent advance request, known as the Sixth Supplemental Advance, was made on January 11, 2024, for the full offering amount and remains outstanding. The offering is part of a broader strategy to finance the company's operations and growth initiatives. The common stock will be issued at a price per share determined by a...Show More

Canoo Inc., a company specializing in electric vehicle technology, has announced a direct offering of $17,500,000 of its common stock to YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP. This offering is connected to a series of agreements, including the Pre-Paid Advance Agreement (PPA) and various Supplemental Agreements, which allow Canoo to request advances up to a total commitment amount of $300,000,000 from YA. The most recent advance request, known as the Sixth Supplemental Advance, was made on January 11, 2024, for the full offering amount and remains outstanding. The offering is part of a broader strategy to finance the company's operations and growth initiatives. The common stock will be issued at a price per share determined by a set formula, with the transaction subject to customary terms and conditions. The announcement also detailed the company's special meetings and voting results, including amendments to the PPA and the approval of share issuances exceeding 20% of the outstanding shares. Canoo's common stock and public warrants are traded on Nasdaq under the symbols 'GOEV' and 'GOEVW,' respectively.