Summary by Moomoo AI
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
