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 The company has withdrawn its previously-issued revenue and operational guidance for the year ending December 31, 2024.