GOEV - Canoo shares plunges on $52.5M registered direct offering
- Canoo ( NASDAQ: GOEV ) shares sinks more than 20% in prem-market session on Monday after announcing issuance of 50M shares of the company's common stock together with warrants to purchase up to 50M shares at a combined purchase price of $1.05 per share.
- The gross proceeds from the offering are expected to be approximately $52.5M.
- The five-year warrants having an exercise price of $1.30/share will be exercisable beginning six months following the date of issuance.
- The offering is expected to close on or about February 8, 2023.
- The company intends to use the net proceeds from the offering for general working capital purposes.
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Canoo shares plunges on $52.5M registered direct offering