Canoo and Hennessy Capital Acquisition IV announced the completion of their business combination, following a shareholder vote Dec. 21.
Canoo develops electric vehicles “with a proprietary and highly versatile EV platform for personal and business use,” the company said.
The merger consideration payable to Canoo shareholders 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 stock and warrants will begin trading today on the Nasdaq under “GOEV” and “GOEVW,” respectively. Read more.
