Summary by Moomoo AI
Canoo Inc., an electric vehicle company, has entered into an Equity Distribution Agreement with Northland Securities, Inc., acting as the sales agent, to offer and sell up to $200,000,000 of its common stock. The sales will be conducted as 'at the market offerings' under Rule 415 of the Securities Act of 1933, through methods including direct sales on Nasdaq or other existing trading markets in the United States. The Agent will receive a commission of 3.0% of the gross sales price per share sold. Canoo's common stock and public warrants are traded on The Nasdaq Capital Market under the symbols 'GOEV' and 'GOEVW,' respectively. The last reported sale price of Canoo's common stock was $1.25 per share, and the public warrants were $0.039 per warrant as of September 13, 2024. The company plans to use the net proceeds from this offering for working capital and other general corporate purposes.