Summary by Moomoo AI
Canoo Inc. (GOEV) has announced a reverse stock split that is scheduled to take effect before the market opens on March 8, 2024. The split will be conducted on a 1-for-23 basis, meaning that each Class A Common Share of Canoo will be converted into approximately 0.043478 new Class A Common Shares. The ticker symbol for Canoo will change from GOEV to GOEV1 in conjunction with the reverse split. Shareholders will receive cash in lieu of fractional shares that result from the split. The new CUSIP number for Canoo will be 13803R201. The Options Clearing Corporation (OCC) will delay the settlement of the cash portion of the GOEV1 deliverable until the cash in lieu amount for fractional GOEV shares is determined. Following this, the OCC will require the delivery of the appropriate cash amount from Put exercisers and Call assignees.
