A vote on the proposed business combination is expected by year’s end, although a precise date was not included in the SPAC’s preliminary proxy filed today.
The merger consideration payable to Canoo shareholders upon closing consists of 175 million newly issued shares of Hennessy Capital common stock at $10 per share and up to an additional 15 million shares of Hennessy common stock if certain share price thresholds are achieved within five years after the closing.
Canoo designs and manufactures electric vehicles. Read more.
