Summary by Moomoo AI
Canoo Inc. has filed an amendment to its prospectus supplement originally dated April 10, 2023, with the latest amendment being dated July 23, 2024. This amendment, referred to as Amendment No. 1, modifies the company's previous disclosures regarding its equity distribution and reallocation of shares. Specifically, Canoo has disclosed the reallocation of $5,000,000 worth of shares from the Sales Agreement to the offering of shares under the Pre-Paid Advance Agreement with YA II PN, Ltd., which was entered into on July 19, 2024. The amendment also updates the aggregate offering amount of common stock to $195,000,000 and details the sale of 38,259,642 shares for $52,132,179, leaving $142,867,821 available for future sales under the Sales Agreement. These changes are part of Canoo's ongoing efforts to manage its equity distribution strategically.