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8-K: At-the-Market Sales Agreement

SEC ·  Sep 13 17:26
Summary by Moomoo AI
On September 13, 2024, Canoo Inc. announced the entry into an Equity Distribution Agreement with Northland Securities, Inc. to sell up to $200 million of its common stock through an at-the-market offering program. The shares will be offered under the company's shelf registration statements filed in May 2022 and July 2024. Canoo's previous at-the-market offering expired on August 8, 2024. The company also entered into a Consent Agreement with YA II PN, Ltd., allowing for the at-the-market offering subject to certain conditions. Additionally, Canoo provided preliminary unaudited financial data for the three months ending September 30, 2024, expecting revenues between $0.1 million to $1.2 million and an Adjusted EBITDA of negative $30.0 million to negative $40.0 million. The company has withdrawn its previously-issued revenue and operational guidance for the year ending December 31, 2024.
On September 13, 2024, Canoo Inc. announced the entry into an Equity Distribution Agreement with Northland Securities, Inc. to sell up to $200 million of its common stock through an at-the-market offering program. The shares will be offered under the company's shelf registration statements filed in May 2022 and July 2024. Canoo's previous at-the-market offering expired on August 8, 2024. The company also entered into a Consent Agreement with YA II PN, Ltd., allowing for the at-the-market offering subject to certain conditions. Additionally, Canoo provided preliminary unaudited financial data for the three months ending September 30, 2024, expecting revenues between $0.1 million to $1.2 million and an Adjusted EBITDA of negative $30.0 million to negative $40.0 million. The company has withdrawn its previously-issued revenue and operational guidance for the year ending December 31, 2024.
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