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SEC Form SC 13G/A filed by Canoo Inc. (Amendment)

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Auto Parts:O.E.M.
Consumer Discretionary
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SC 13G/A 1 tm231355-11_sc13ga.htm SCHEDULE 13G/A

 

 Page 1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

AMENDMENT NO. 1 to SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

 

Canoo Inc.

(Name of Issuer)

 

 

 

Common Shares, with a nominal value $0.0001 per share

(Title of Class of Securities)

 

13803R102

(CUSIP Number)

 

December 31, 2022

 

(Date of Event, which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨       Rule 13d-1(b)

x       Rule 13d-1(c)

¨       Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information, which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act out shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 Page 2

 

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

YA II PN, Ltd.

(98-0615462)

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: cAYMAN ISLANDS

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 3

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

YA Global Investments II (U.S.), LP

(42-1766918)

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 4

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

YA II GP, LP

(80-0827189)

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 5

 

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

YAII GP II, LLC

(81-4908890)

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 6

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

Yorkville Advisors Global, LP

(90-0860458)

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 7

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

Yorkville Advisors Global II, LLC

(81-4918579)

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 8

 

CUSIP No. 13803R102
1

NAME OF REPORTING PERSONS.

I.R.S. Identification Nos. of above persons (entities only)

 

Mark Angelo

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) x

(b) ¨

  
3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION: U.S.A.

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH		 5

SOLE VOTING POWER:      0

 

6

SHARED VOTING POWER:       38,292,581*

 

7

SOLE DISPOSITIVE POWER:      0

 

 

  8 SHARED DISPOSITIVE POWER:      38,292,581*
 

9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:      38,292,581*  
10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)      ¨

EXCLUDES CERTAIN SHARES (sEE iNSTRUCTIONS)

  
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      9.99%**  
12 TYPE OF REPORTING PERSON: oo  

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

 

 Page 9

 

Item 1.

 

  (a) Name of Issuer:

Canoo Inc

 

  (b) Address of Issuer’s Principal Executive Offices

19951 Mariner Avenue

Torrance, California 90503

 

Item 2. Identity and Background.

 

  (a) Name of Person Filing:

YA II PN, Ltd.

 

  (b) Address of Principal Executive Office or, if none, Residence of Reporting Persons:

1012 Springfield Ave.

Mountainside, NJ 07092

 

  (c) Citizenship:

Cayman Islands

 

  (d) Title of Class of Securities:

Common Stock,with a nominal value $0.0001 per share

 

  (e) CUSIP Number:

13803R102

 

Item 3. If the statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is:

 

  (a) ¨  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
       
  (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
       
  (c) ¨  Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
       
  (d) ¨  Investment company registered under section 8 of the Investment Company Act of 1940 (15 of the Act (15 U.S.C. 78o);
       
  (e) ¨  An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
       
  (f) ¨  An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
       
  (g) ¨  A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
       
  (h) ¨  A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
       
  (i) ¨  A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
       
  (j) ¨  A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); or
       
  (k) x  Group, in accordance with 240.13d(b)(1)(ii)(K).

 

Item 4.Ownership

 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

(a)Amount beneficially owned: 38,292,581*

 

(b)Percentage of Class: 9.99%**

 

 

 Page 10

 

(c)Number of shares as to which the person has:

 

(i)Sole Power to vote or to direct the vote: 0

 

(ii)Shared power to vote or to direct the vote: Less than 38,292,581*

 

(iii)Sole power to dispose or to direct the disposition: 0

 

(iv)Shared power to dispose or to direct the disposition: 38,292,581*

 

* 38,292,581 shares consisting of direct ownership of 0 Common Shares plus the deemed ownership of an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

** Calculation based on 383,309,119 outstanding shares of issuer’s Common Shares, consisting of 345,016,538 Common Shares outstanding as of the date of this report and an additional 38,292,581 Common Shares that the reporting person has the right to acquire within 60 days of the date of the report.

 

Item 5.Ownership of Five Percent or Less of a Class:

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨.

 

Item 6.Ownership of more than five percent on Behalf of Another Person.

 

The reporting persons directly or indirectly own an aggregate of 29,902,569 or 9.99%, Common Shares of the Company as of the date of this filing. YA II and the other reporting persons shared the power to vote and dispose any such Common Shares.

 

Direct beneficial ownership of such Common Shares by the reporting persons is as follows (and therefore excludes any Common Shares indirectly held by such person or any securities, such as warrants, which may be exercised or converted into Common Shares of the Company):

 

·         YA II PN, Ltd. – 0

 

·         YA Global Investments II (U.S.), LP -- 0

 

·         Yorkville Advisors Global, LP – 0

 

·         Yorkville Advisors Global II, LLC – 0

 

·         YA II GP, LP – 0

 

·         YAII GP II, LLC -- 0

 

·         Mark Angelo – 0

 

Indirect beneficial ownership: YA II PN, Ltd. (“YA II”) entered into a Pre-Paid Advance Agreement (this “Agreement”) with the issuer dated as of July 20, 2022. Under the Agreement, the issuer may request advances of up to $50 million each (“Pre-Paid Advances”) from YA II, with an aggregate limitation of $300 million. Under the Agreement, YA II has the right to acquire shares of Common Stock to offset amounts owed under outstanding Pre-Paid Advances at a price per share equal to the lower of (a) 120% of the daily volume weighted average price (the “VWAP”) of the Common Stock on The Nasdaq Global Select Market (“Nasdaq”) as of the trading day immediately prior to the date of the disbursement of the Pre-Paid Advance, or (b) 95% of the VWAP of the Common Stock on Nasdaq as of the trading day immediately preceding the date on which YA II provides the purchase notice to the Company, subject to the terms and conditions of the Agreement.

 

 

 Page 11

 

On November 10, 2022, YA II and the issuer entered into supplemental agreement to the Agreement (the “Supplemental Agreement”). Pursuant to the Supplemental Agreement, YA II advanced a Pre-Paid Advance in the amount of $21.3 million. The Supplemental Agreement provides that solely with respect to the $21.3 million Pre-Paid Advance, YA II has the right to acquire shares of Common Stock to offset amounts owed such Pre-Paid Advance at a price per share equal to the lower of a) 110% of the daily VWAP of the Common Stock on the Nasdaq as of November 9, 2022, or (b) 95% of the lowest daily VWAP of the Common Stock on Nasdaq during the five (5) trading days immediately preceding the date on which YA II provides the purchase notice to the Company, but not lower than $0.50 per share. Under the Agreement, YA II is prohibited from acquiring shares of Common Stock to the extent that it would cause the aggregate number of shares beneficially owned by YA II and its affiliates to exceed 9.99% of the outstanding shares of Common Stock of the issuer, after giving effect to such issuance.

 

In addition to the direct beneficial ownership set forth above, each reporting person is also deemed to be the indirect beneficial owner of additional shares of Common Stock that YA II may acquire under the Agreement within 60 days of the date of this filing such that each reporting person is deemed to be the indirect beneficial owner of an additional 38,292,581 shares of Common Stock.

 

Below is a description of the relationship among the reporting persons:

 

YA II PN, Ltd. (“YA II”) is beneficially owned by YA Global Investments II (U.S.), LP (the “YA Feeder”). Yorkville Advisors Global, LP (the “YA Advisor”) is the investment manager to YA II. Yorkville Advisors Global II, LLC (the “YA Advisor GP”) is the general partner to the YA Advisor. YAII GP, LP (the “YA GP”) is the general partner to the YA Feeder. YAII GP II, LLC (the “Yorkville GP”) is the general partner to the YA GP. Mark Angelo makes the investment decisions on behalf of YA II. Accordingly, each of YA II, YA Feeder, the YA Advisor, the YA Advisor GP, the YA GP, the Yorkville GP and Mark Angelo may be deemed affiliates and therefore may be deemed to beneficially own the same number of Common Shares.

 

For purposes of this filing, each of the reporting persons is deemed an affiliate of each other reporting person.

 

Item 7.Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

 

Not Applicable

 

Item 8.Identification and Classification of Member Group

 

See Item 6.

 

Item 9.Notice of Dissolution of Group

 

Not Applicable

 

Item 10.Certification

 

By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as participant in any transaction having that purpose or effect.

 

Additional Information:

 

Each Reporting Person disclaims beneficial ownership of any securities beneficially owned by each other Reporting Person, and its report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of these securities for the purpose of Section 16 or for any other purpose.

 

 

 Page 12

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: January 5, 2023

 

REPORTING PERSON:

 

YA II PN, Ltd.

 

By: /s/ Robert Munro

Robert Munro

Chief Compliance Officer

 

YA Global Investments II (U.S.), Ltd.

 

By: /s/ Robert Munro

Robert Munro

Chief Compliance Officer

 

Yorkville Advisors Global, LP

 

By: Yorkville Advisors Global, LLC

Its: General Partner

 

By: /s/ Robert Munro

Robert Munro

Chief Compliance Officer

 

Yorkville Advisors Global II, LLC

 

By: /s/ Robert Munro

Robert Munro

Chief Compliance Officer

 

YA II GP, LP

 

By: YAII GP II, LLC

Its: General Partner

 

By: /s/ Robert Munro

Robert Munro

Chief Compliance Officer

 

YAII GP II, LLC

 

By: /s/ Robert Munro

Robert Munro

Chief Compliance Officer

 

 

 

 

 
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    Canoo to establish first European location in Bicester Motion allowing UK customers to experience and test drive Canoo's right-hand drive commercial electric vansCanoo's expansion poised to capitalize on the strong demand in the light commercial vehicle (LCV) market JUSTIN, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced the company's official launch into the United Kingdom market by establishing Canoo Technologies UK Limited, a new legal entity in the UK, marking a significant milestone in the company's global expansion strategy. Canoo has selected Bicester Motion, an iconic automotive campus, as a key loc

    $GOEV
    Auto Parts:O.E.M.
    Consumer Discretionary

  • Canoo Appoints Former NASA Chief Technology Officer Deborah Diaz and Veteran EV Transportation Leader James Chen to Board of Directors

    Justin, Texas, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), an advancing high-tech mobility company, today announced appointments of two leaders in electric mobility, public policy, clean energy, technology, and cybersecurity to the company's Board of Directors. The appointments of Ms. Deborah Diaz and Mr. James Chen are effective immediately."I'm excited to strengthen the board with the additions of Deborah and James," said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo. "As innovators and leaders, they will support Canoo and its team achieve our strategic growth objectives and increase our market penetration."Deborah B. Diaz previously served as former Chief T

    $GOEV
    Auto Parts:O.E.M.
    Consumer Discretionary

$GOEV
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  • Canoo Inc. Announces Third Quarter 2024 Results

    Quarterly revenue of $0.9 million, and year-to-date revenue of $1.50 millionQuarterly Adjusted EBITDA was $(37.7) million, an improvement of 2% versus Q3 2023Adjusted Net Loss Per Share was $(0.54), a 67% improvement versus $(1.71) in Q3 2023 and comparable to $(0.61) per share in Q2 2024Quarterly cash outflow of $31.3 million in Q3 2024, compared to cash outflow of $39.4 million in Q2, 2024, a 20.7% reduction between Q3 and Q2 2024, and a 58.6% reduction from Q3 2023.Our consolidation of operations from California to Texas and Oklahoma will result in estimated future savings of approximately $12 million - $14 million on an annualized basis, with potential for additional savings. JUSTIN, Te

    $GOEV
    Auto Parts:O.E.M.
    Consumer Discretionary

  • Canoo Schedules Third Quarter 2024 Earnings Conference Call and Webcast

    JUSTIN, Texas, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the third quarter ended September 30, 2024 after the market close on Wednesday, November 13, 2024 and host a conference call and webcast at 5 p.m. ET to discuss the results. The call will be hosted by Tony Aquila, Investor, Executive Chairman and Chief Executive Officer, Kunal Bhalla, Chief Financial Officer, and Ramesh Murthy, Senior Vice President Finance, Chief Accounting Officer, and Chief Administrative Officer. Conference Call and Webcast DetailsA slide presentation and webcast link will be posted on the Canoo

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    Auto Parts:O.E.M.
    Consumer Discretionary

  • Canoo Inc. Announces Second Quarter 2024 Results

    Quarterly revenue record of $605KQuarterly Adjusted EBITDA was $(38.6) million, an improvement of 38% versus Q2 2023, and an improvement of 20% versus Q1 2024Adjusted Net Loss Per Share was $(0.61), a 46% improvement from $(1.13) per share in Q1 202433% or $20.7 million reduction in Operating Expenses versus Q1 2024Reduced total quarterly cash outflow by $39 million or 49% in Q2 2024 versus Q2 2023Relocating headquarters from California to Texas and continued migration to our Oklahoma City and Pryor, OK facilitiesSuccessfully concluded Red Sea Global pilot in extreme terrains and climatic conditionsAdvanced our customer acquisition of large commercial fleets in the US, UK and Middle-East whi

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    Auto Parts:O.E.M.
    Consumer Discretionary

$GOEV
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