Summary by Moomoo AI
On March 12, 2024, Canoo Inc. entered into an eighth Supplemental Agreement with YA II PN, Ltd., also known as Yorkville, amending their existing Pre-Paid Advance Agreement. Under this new agreement, Yorkville will provide Canoo with an advance of $62,032,000, exceeding the original Maximum Advance Amount of $50,000,000. The funds will be issued at a Purchase Price of $2.30 per share. Canoo plans to use a portion of this advance to repay $32,000,000 in principal and $47,123 in accrued interest from previous advances, along with the applicable Redemption Premium. After accounting for various fees and repayments, the net proceeds from this advance will total $15,000,000. Additionally, on the same date, Canoo and Yorkville agreed to a Warrant Cancellation and Exchange Agreement, where Yorkville surrendered outstanding warrants for...Show More