Summary by Moomoo AI
Canoo Inc. (Canoo), a company specializing in electric vehicle technology, has announced a direct offering of $15,957,447 of its common stock to YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP (Yorkville). This offering is connected to a series of agreements, including the Pre-Paid Advance Agreement (PPA) and several Supplemental Agreements, which allow Canoo to request advances up to a total commitment amount of $300,000,000 from YA. The most recent request, known as the Fifth Supplemental Advance, was made on December 20, 2023, for the exact amount of the offering, and remains outstanding. The offering is set to be offset by the issuance of Canoo's common stock to YA at a price per share determined by a set formula. The announcement also detailed the company's special meeting results and provided information on the potential impact of the offering on investors. Canoo's common stock and public warrants are traded on Nasdaq under the symbols 'GOEV' and 'GOEVW,' respectively.
