canoo gets $15M in YA dilutive financing.

 

 

New $GOEV filing. 
Canoo gets another $15M 
in YA dilutive financing.

 

canoo gets $15M in YA dilutive financing.

 

 

Entry into a Material Definitive Agreement.

• On July 20, 2022, Canoo Inc. (the “Company”) entered into a Pre-Paid Advance Agreement (as amended and supplemented from time to time, the “PPA”) with YA II PN, Ltd. (“Yorkville”). In accordance with the terms of the PPA, the Company may request advances of up to $50,000,000 in cash from Yorkville (or such greater amount that the parties may mutually agree).
  
   
• On December 20, 2023, the Company entered into a fifth Supplemental Agreement (the “Fifth Supplemental Agreement”) with Yorkville to the PPA. Pursuant to the Fifth Supplemental Agreement, Yorkville agreed to advance $15,957,447 to the Company (the “Fifth Supplemental Advance”) and waive certain terms and conditions set forth in the PPA with respect to such Supplemental Advance. After giving effect to the commitment fee and the purchase price discount provided for in the PPA, net proceeds of the Fifth Supplemental Advance to the Company will be approximately $15,000,000.

 

• The Fifth Supplemental Agreement provides that solely with respect to the Fifth Supplemental Advance, the Purchase Price (as such term is used in the PPA) will be equal to the lower of (a) $0.28 per share, or (b) 95% of the lowest daily VWAP during five Trading Days immediately preceding each Purchase Notice Date (as such term is used in the PPA), but not lower than the Floor Price (as defined in the PPA). Further, the Company agreed to pay Yorkville a commitment fee of $797,872 in connection with the Fifth Supplemental Agreement, which shall be deducted from the proceeds of the Fifth Supplemental Advance.

 

• The foregoing description of the Fifth Supplemental Agreement is qualified in its entirety by reference to the Fifth Supplemental Agreement, which is filed hereto as Exhibit 10.1 and which is incorporated herein by reference.

 

Canoo Inc. - Entry into a Material Definitive Agreement, Financial Statements and Exhibits - 8-K - December 20, 2023.pdf

2.20MB

 

 

Full webinar of the Force Family Office Presentation 

• Full webinar of the Force Family Office Presentation on 12/19/2023 featering Canoo CFO Greg Ethridge and CTO Nitan Patel:

 

 

 

 

Canoo investor webinar 20231219

 

About Canoo Inc (GOEV)