Canoo Inc., a Delaware-based electric vehicle (EV) company, has filed a Pre-Effective Amendment No. 1 to Form S-3 with the Securities and Exchange Commission (SEC) on July 10, 2024. This filing pertains to the registration of 13,719,850 shares of common stock, which are to be offered and sold by YA II PN, LTD., a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP. The shares are related to a Pre-Paid Advance Agreement dated June 13, 2024, where Canoo Inc. received an advance of $15 million from YA, with the advance to be offset upon the issuance of shares at an initial purchase price of $2.30 per share. The purchase price may be adjusted based on the average of the daily volume weighted average...Show More

Canoo Inc., a Delaware-based electric vehicle (EV) company, has filed a Pre-Effective Amendment No. 1 to Form S-3 with the Securities and Exchange Commission (SEC) on July 10, 2024. This filing pertains to the registration of 13,719,850 shares of common stock, which are to be offered and sold by YA II PN, LTD., a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP. The shares are related to a Pre-Paid Advance Agreement dated June 13, 2024, where Canoo Inc. received an advance of $15 million from YA, with the advance to be offset upon the issuance of shares at an initial purchase price of $2.30 per share. The purchase price may be adjusted based on the average of the daily volume weighted average price (VWAP) of Canoo's common stock on Nasdaq, subject to certain conditions. Canoo Inc. will not receive any proceeds from the sale of the common stock by the selling stockholder. The shares are to be sold at the discretion of YA, and the agreement includes provisions for interest accrual and repayment of the advance, with restrictions on short sales and hedging by YA. Canoo's common stock and public warrants are traded on Nasdaq under the symbols 'GOEV' and 'GOEVW', respectively.