The SEC has opened an investigation into newly public electric vehicle startup Canoo, CEO Tony Aquila shared on a conference call, The Verge reports.
The probe is broad, though the startup said in a regulatory filing that the SEC has characterized it as a “fact-finding inquiry,” and that the agency has not yet concluded whether anyone violated the law. It covers Canoo’s merger with Hennessy Capital Acquisition IV, completed in December, plus its “operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics, along with the recent departures of certain of the company’s officers.”
Canoo says it plans to provide all requested material and fully cooperate. Aquila declined to take any questions about the probe on the call, which was the startup’s second as a public company. Read more.
