Summary by Moomoo AI
Canoo Inc., an advanced mobility technology company, has announced a direct offering of $62,032,000 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 several supplemental agreements, which allow Canoo to request advances up to an aggregate of $300,000,000 from YA. The most recent advance request, known as the Eighth Supplemental Advance, was made on March 12, 2024, for the full offering amount and remains outstanding. The common stock will be issued to YA at a price of $2.30 per share. Canoo has also entered into various agreements with YA, including a Warrant Cancellation and Exchange Agreement and agreements related to the...Show More