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The deal is done between Canoo and the Hennessy Acquisition SPAC, nearly four months to the day after being announced. Canoo will start trading on the NASDAQ tomorrow under the ticker $GOEV https://www.sec.gov/Archives/edgar/data/1750153/000121390020043813/ea131999ex99-1_canooinc.htm
Here’s my story from last week on Canoo’s new direction and the EV startup’s new chairman: https://www.theverge.com/2020/12/17/22179588/canoo-delivery-vehicle-nasdaq-spac-merger-listing-public $goev $hcac
Canoo, if you’re not familiar, is the startup that splintered out of Faraday Future during its 2017 financial meltdown. The BMW execs who were brought in to save FF had gotten fed up with FF founder Jia Yueting and started their own thing https://www.theverge.com/2018/3/13/17111026/evelozcity-stefan-krause-interview-electric-cars
Canoo got started w/ $$ from Pak Tam Li (an investor w/ CCP ties), David Stern (a businessman w/ ties to Prince Andrew), & Foster Chiang, son of a Taiwanese touchscreen magnate, as I first reported in October 2019/February 2020
https://www.theverge.com/2019/10/8/20899436/discrimination-lawsuit-canoo-foreign-backers-ev-startup-british-chinese-government https://www.theverge.com/2020/2/11/21133461/hyundai-canoo-electric-cars-partership-kia
https://www.theverge.com/2019/10/8/20899436/discrimination-lawsuit-canoo-foreign-backers-ev-startup-british-chinese-government https://www.theverge.com/2020/2/11/21133461/hyundai-canoo-electric-cars-partership-kia
As I reported last week, Canoo is purposely keeping Pak Tam Li (aka Li Botan) off the board to try to avoid issues with CFIUS, though Li owns more than 32% of the company post-merger. https://www.theverge.com/2020/12/17/22179588/canoo-delivery-vehicle-nasdaq-spac-merger-listing-public
And there we go https://twitter.com/nasdaq/status/1341403204949520389
