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2020-10-20425Prospectuses and communications, business combinationsAcc-no: 0001213900-20-032344 (34 Act)  Size: 47 KB
2020-10-02SC 13GStatement of acquisition of beneficial ownership by individualsAcc-no: 0000902664-20-003496 (34 Act)  Size: 109 KB
2020-09-24425Prospectuses and communications, business combinationsAcc-no: 0001213900-20-028176 (34 Act)  Size: 15 MB
2020-09-248-KCurrent report, items 7.01 and 9.01 Acc-no: 0001213900-20-028175 (34 Act)  Size: 15 MB
2020-09-18S-4Registration of securities, business combinationsAcc-no: 0001213900-20-027400 (33 Act)  Size: 19 MB
2020-09-18SC 13GStatement of acquisition of beneficial ownership by individualsAcc-no: 0000902664-20-003377 (34 Act)  Size: 104 KB
2020-09-16425Prospectuses and communications, business combinationsAcc-no: 0001213900-20-026940 (34 Act)  Size: 80 KB
2020-09-10SC 13G/A[Amend] Statement of acquisition of beneficial ownership by individualsAcc-no: 0001076809-20-000151 (34 Act)  Size: 59 KB
2020-08-278-KCurrent report, items 5.03, 5.07, 7.01, and 9.01 Acc-no: 0001213900-20-024002 (34 Act)  Size: 74 KB
2020-08-25425Prospectuses and communications, business combinationsAcc-no: 0001213900-20-023648 (34 Act)  Size: 25 KB
2020-08-18DEFA14AAdditional definitive proxy soliciting materials and Rule 14(a)(12) materialAcc-no: 0001213900-20-022713 (34 Act)  Size: 118 KB
2020-08-18425Prospectuses and communications, business combinationsAcc-no: 0001213900-20-022699 (34 Act)  Size: 137 KB
2020-08-188-KCurrent report, items 1.01, 3.02, 7.01, and 9.01 Acc-no: 0001213900-20-022607 (34 Act)  Size: 49 MB


Electric Vehicle Company Canoo Announces Appointment Of Tony Aquila As Executive Chairman
10/20/2020 8:01:00 PM

Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform, announced today the appointment of Tony Aquila as Executive Chairman as it prepares for the closing of the announced merger with Hennessy Capital Acquisition Corp. IV ("HCAC") (Nasdaq: HCAC), a special purpose acquisition company (SPAC).

SHAREHOLDER ALERT: WeissLaw LLP Reminds GMHI, TRNE, and HCAC Shareholders About Its Ongoing Investigations
10/15/2020 8:34:00 PM

If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice or your rights or interests, please contact:

IPO Edge’s Jannarone: Flashy SPAC Deals Carrying Market, But Don’t Miss Haymaker – Cheddar TV
9/22/2020 2:17:11 PM

The IPO market is on pace to be the hottest in 20 years, with half of the volume coming from sizzling SPAC deals. But as more and more SPACs appear, investors should be increasingly careful about which ones they consider buying. That’s according to IPO Edge Editor-in-Chief John Jannarone, who spoke to Cheddar TV’s Azia […]

Electric Vehicle Company Canoo To Present At The RBC Capital Markets Global Industrials Conference
9/14/2020 8:05:00 PM

Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform for personal and business use, announced today it will present at the RBC Capital Markets Global Industrials Conference. Members of management will present Tuesday, September 15, at 5:00 p.m. ET. Access to the presentation will be available at the link here and will be archived for one year.

Electric Vehicle Company Canoo To Present At The Cowen Global Transportation & Sustainable Mobility Conference
9/9/2020 8:24:00 PM

Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform for personal and business use, announced today it will present at the Cowen Global Transportation & Sustainable Mobility Conference. Members of management will present Thursday, September 10, at 3:20 p.m. ET. Access to the presentation will be available at the link here and will be achieved for 90 days.

9th Annual Gateway Conference to Feature Electric Vehicle and Mobility Panel on Wednesday, September 9th, 2020 at 2:30 p.m. ET
9/4/2020 3:17:00 PM

NEWPORT BEACH, Calif., Sept. 04, 2020 (GLOBE NEWSWIRE) -- Gateway Investor Relations, a 20-year-old leading strategic financial communications and capital markets advisory firm, will host its 9th Annual Gateway Conference on September 9th and 10th, 2020. On September 9th at 2:30 p.m. Eastern time, Gateway will host a panel that brings together some of the early leaders in the fast-growing electric vehicle (EV) and mobility industries. Discussion will center around the different approaches being taken to address current obstacles to widespread EV adoption, as well as the future direction of personal mobility.The panel will be moderated by Gateway executives Matt Glover, senior managing director and the head of the firm’s technology practice, as well as Tom Colton, director and the head of the firm’s EV practice. Confirmed industry participants include: * Canoo Holdings Ltd. (Canoo), a company developing breakthrough electric vehicles from the ground up and who recently entered into a definitive agreement for a business combination with Hennessy Capital Acquisition Corp. IV (Nasdaq: HCAC), which would result in Canoo becoming a publicly listed company. * ElectraMeccanica Vehicles Corp. (Nasdaq: SOLO), a designer and manufacturer of innovative electric vehicles, including the three-wheeled, purpose-built, single-seat SOLO EV. * Last Mile Holdings Ltd. (TSXV: MILE; OTC: AZNVF), one of the largest micro-mobility companies in the U.S., offering the broadest product suite in the industry, including electric bikes, scooters, and cruisers. * Workhorse Group Inc. (Nasdaq: WKHS), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector.Registration will be reserved for Gateway Conference participants. Gateway’s invitation-only conference provides investors and analysts a unique opportunity to gain valuable insights during two days of presentations and one-on-one meetings with senior management. To request an invitation, please visit gatewayir.com/conference/ or email conference@gatewayir.com. The preliminary schedule of presenting companies is available here.About The Gateway Conference For the past eight years, the Gateway Conference has engaged the management teams of more than 700 public and private growth companies as well as thousands of institutional investors, sell-side analysts and sponsoring investment bankers. Past attendees have valued the event for its direct access to high-quality companies and investors. Follow the Gateway Conference on Twitter and join the conversation using the GatewayIRConference hashtag. For more information, visit gatewayir.com/conference.About Gateway Investor Relations Gateway is a leading strategic financial communications and capital markets advisory firm. For more than 20 years, Gateway has delivered superior performance in strategic consulting, corporate messaging and positioning, investor awareness, and analyst and financial press coverage. Gateway executives have extensive experience in capital markets and financial communications, and represent clients in a wide range of industries, including technology, consumer, industrials, financial services, and business services. To learn more, please visit gatewayir.com. Make sure to follow us on Twitter, LinkedIn and Facebook.Contact: Tom Colton or Matt Glover Gateway Investor Relations 4685 MacArthur Court, Suite 400 Newport Beach, CA 92660 1-949-574-3860 TMT@gatewayir.com

SHAREHOLDER ALERT: WeissLaw LLP Reminds DLMV and HCAC Shareholders About Its Ongoing Investigations
9/2/2020 10:52:00 PM

If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice or your rights or interests, please contact:

IPO Edge’s Jannarone: Buy DMS and Canoo – TD Ameritrade Network
8/31/2020 7:25:38 PM

Investors looking for a smart bet on internet advertising should take a closer look at shares of recently-listed Digital Media Solutions, Inc. (NYSE: DMS, MD-WT),  which has a very strong business model and a compelling valuation. That's according to IPO Edge Editor-in-Chief John Jannarone, who spoke to TD Ameritrade Network in a clip available here. […]

Hennessy Capital Acquisition Corp IV Announces Stockholder Approval of Extension of Deadline to Complete Business Combination
8/27/2020 4:05:00 PM

NEW YORK, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Hennessy Capital Acquisition Corp. IV (“HCAC”) (NASDAQ: HCAC) announced today that its stockholders approved an extension of the date by which it has to complete a business combination from September 5, 2020 to December 31, 2020. HCAC requested the extension in order to complete the previously announced proposed business combination (the “Canoo Transaction”) with Canoo Holdings Ltd. (“Canoo”), a company developing breakthrough electric vehicles.The Canoo Transaction is expected to be completed in the fourth quarter of 2020, subject to, among other things, the approval by HCAC stockholders and the satisfaction or waiver of other customary closing conditions set forth in the definitive agreement for the Canoo Transaction.About HCAC Hennessy Capital Acquisition Corp. IV is a special purpose acquisition company (or SPAC) which raised $300 million in its IPO in March 2019 and is listed on the Nasdaq Stock Market (NASDAQ: HCAC, HCACU, HCACW). HCAC was founded by Daniel J. Hennessy to pursue an initial business combination, with a specific focus on businesses in the industrial, technology and infrastructure sectors. For more information, please visit www.hennessycapllc.com.Forward Looking StatementsThe information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches, potential benefits of the transaction and the potential success of Canoo’s go-to-market strategy, and expectations related to the terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Canoo’s and HCAC’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Canoo and HCAC. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the Canoo Transaction, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Canoo Transaction or that the approval of the stockholders of HCAC or Canoo is not obtained; failure to realize the anticipated benefits of the Canoo Transaction; risks relating to the uncertainty of the projected financial information with respect to Canoo; risks related to the rollout of Canoo’s business and the timing of expected business milestones and commercial launch; risks related to future market adoption of Canoo’s offerings; risks related to Canoo’s go-to-market strategy and subscription business model; the effects of competition on Canoo’s future business; the amount of redemption requests made by HCAC’s public stockholders; the ability of HCAC or the combined company to issue equity or equity-linked securities in connection with the Canoo Transaction or in the future, and those factors discussed in HCAC’s final prospectus filed on March 4, 2019, Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020, in each case, under the heading “Risk Factors,” and other documents of HCAC filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither HCAC nor Canoo presently know or that HCAC and Canoo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect HCAC’s and Canoo’s expectations, plans or forecasts of future events and views as of the date of this press release. HCAC and Canoo anticipate that subsequent events and developments will cause HCAC’s and Canoo’s assessments to change. However, while HCAC and Canoo may elect to update these forward-looking statements at some point in the future, HCAC and Canoo specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing HCAC’s and Canoo’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.Important Information for Investors and ShareholdersIn connection with the Canoo Transaction, HCAC will file a registration statement on Form S-4, including a proxy statement, with the SEC. Additionally, HCAC will file other relevant materials with the SEC in connection with the Canoo Transaction. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Security holders of HCAC are urged to read the registration statement / proxy statement and the other relevant materials when they become available before making any voting decision with respect to the Canoo Transaction because they will contain important information about the Canoo Transaction and the parties to the Canoo Transaction. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.Participants in the SolicitationHCAC and its directors and officers may be deemed participants in the solicitation of proxies of HCAC’s stockholders in connection with the Canoo Transaction. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of HCAC’s executive officers and directors in the solicitation by reading HCAC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the registration statement / proxy statement and other relevant materials filed with the SEC in connection with the Canoo Transaction when they become available. Information concerning the interests of HCAC’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement relating to the Canoo Transaction when it becomes available.ContactsCody Slach cody@gatewayir.com

Electric Vehicle Company Canoo Announces Board Members
8/25/2020 5:55:00 PM

Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform for personal and business use, announced today the details of its nominees for its board of directors following the announced merger with Hennessy Capital Acquisition Corp. IV ("HCAC") (Nasdaq: HCAC), a special purpose acquisition company (SPAC), that would result in Canoo becoming a publicly listed company.

Ride with Canoo as it Pulls Ahead of the EV Pack with “Last Mile” Advantage
8/24/2020 9:59:20 PM

Hennessy Capital Acquisition Corp. IV to merge with Canoo Holdings Ltd. Canoo vehicles are ideal for commercial use in last mile delivery fleets Walmart, other retailers are possible partners as they ramp up last mile tech Canoo to offer leases rather than purchases to allow fast adoption Canoo trades at 0.85x 2025 revenue, much lower […]

5 SPAC Stocks With Recently Agreed On Merger Deals to Watch
8/21/2020 5:23:54 PM

Since my last article several weeks ago about SPAC stocks -- SPAC standing for special purpose acquisition company -- I decided to find five more stocks with agreed-on merger deals. Some of these stocks have very serious upside potential. We're likely to see this on display once their combination with the target private company closes.As I previously pointed out, one reason for this is very simple. The general investing public tends to wait to buy these stocks until after the combination. In some cases, investors are not aware that you can buy the SPAC stock first. In other cases, they are not aware of the newly public company until it starts trading under its own new symbol.Therefore, an investor can get in on the bottom floor, so to speak. The potential for huge upside profits, once the combination goes into effect and the stock symbol changes, is very high.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, as the list I am presenting below shows, sometimes there are hiccups. In one case there is a lot of drama and that is limiting the price from rising right now. But, as you will see, that in an of itself, presents a value buying opportunity. * 7 Safe Stocks to Buy That Can Shrug Off the Growing Volatility So here are the five SPAC stocks with pre-merger deals: * Landcadia Holdings II (NASDAQ:LCA) * Far Point Acquisition Corp (NYSE:FPAC) * Software Acquisition Group (NASDAQ:SAQN) * Hennessey Capital Acquisition Corp IV (NASDAQ:HCAC) * Megalith Financial Acquisition Corp (NYSE:MFAC)Let's dive in and look at these. 5 SPAC Stocks With Merger Deals: Landcadia Holdings II (LCA)Source: rawf8/Shutterstock.com Merger Target: Golden Nugget Online (Online Casino)On June 28, Golden Nugget Online Gaming, a U.S. online real money casino owned by Tilman Fertitta, agreed to a reverse merger with Landacadia. This will be the second pure publicly traded online casino, after DraftKings (NASDAQ:DKNG).DraftKings now has a $12.6 billion market capitalization. DKNG stock has risen to $35.59 from its pre-merger original $10 SPAC price. By the time it went public, the SPAC price had risen to between $17 and $19 per share. So, essentially, since going public the stock has doubled to its present price of over $35.I suspect the same could happen with Golden Nugget Online Gaming. Its new symbol will be GNOG, once the deal closes sometime this quarter, although a date has yet been set.One of the key differences is profitability. For example, GNOG just announced its Q2 showed $24.8 million in net revenue and $8.5 million in operating income. This was up 74% year-over-year. By contrast, DraftKings had higher revenue of $70.9 million but lost $160.4 million on an operating basis. So GNOG is much more profitable.I suspect there will be more of these online casinos going public, as the Wall Street Journal recently wrote. This is especially since physical casinos are losing money head over heals.However, it looks to me that LCA stock, later to be renamed GNOG, will be a winner. I believe, given its profitability, it will likely double or even more once the merger is approved and the new symbol starts trading. Far Point Acquisition Corp (FPAC)Source: Shutterstock Merger Target: Global Blue (Online Payments)Far Point Acquisition Corp is slated to combine with Global Blue Group, a Swiss-based payments company. But that deal was announced on Jan. 6, and the deal still has not closed. You also would not know that there even is a deal, since FPAC stock trades below its IPO price of $10 ($9.91, as of Aug. 21).There has been considerable drama on the deal, as explained in a recent Barron's article. A special meeting of shareholders is scheduled for Aug. 24 to vote on the deal. Right now, the stock price implies that the deal will not pass. If it does the new symbol on the NYSE will be GB.Most investors should probably just wait and see what happens with GB stock. Sometimes these deals are better when everyone is on the same side, not working against each other. That seems to be the case here.However, this could turn into an arbitrage play for astute value players at today's price. The company has to consummate its Initial Business Combination by Sept. 14. * 7 Marijuana Stocks to Buy As the Industry Continues to Grow Otherwise, the $10 IPO money, plus interest, has to be returned to shareholders within 10 days after Sept. 14, after paying all its taxes due. That probably works out to about a 3.3% arbitrage play at today's price. Software Acquisition Group (SAQN)Source: Shutterstock Merger Target: CuriosityStream (Subscription Service: Documentaries)This is another interesting SPAC merger deal. It was just announced on Aug. 11, and yet SAQN stock has not really moved. It is still trading below $10 ($9.98 as of Aug. 21). Once the deal closes in Q4, the new symbol will be CURI.I find this interesting for another reason. The original founder of Discovery TV, John Hendricks, founded this "pure-play" non-legacy linear TV streaming company, as Deadline magazine framed it. It streams only factual programs like documentaries. CuriosityStream has 13 million subscribers.CuriosityStream has over 13 million subscribers in over 175 countries. It costs just $19.99 annually if you don't buy it on Amazon (NASDAQ:AMZN) Prime, where it costs $2.99 per month. I decided to do this and so far it works great as an app that I stream to my TV via Chromecast, while I write articles on the computer for InvestorPlace.I suspect the stock is very undervalued at today's price. Let's do some simple estimates. For example, 13 million people paying $19.99 annually is $260 million annually. At 10 times revenue that gives it a valuation of $2.6 billion. Now since SAQN stock today has a market value of just $186.5 million, it implies the stock could rise 14 times. Even at five times revenue, the stock would rise 7x.This could be a real undiscovered gem in the SPAC stocks space. Hennessey Capital Acquisition Corp IV (HCAC)Source: buffaloboy / Shutterstock.com Merger Target: Canoo (Electric Vehicle Manufacturer)This is another recently announced SPAC deal, as of Aug. 18. Canoo is an electric vehicle maker. It projects 2024 revenue of $1.43 billion and its first profit at $188 million. Canoo expects to build 10,000 canoo vehicles in 2022, rising to 50,000 in 2024.Right now there are 37.5 million HCAC shares outstanding, so at $10.44, the SPAC has a market value of just $391.7 million. However, there are 30 million warrants outstanding that have an exercise price of $10, and so they are not "in-the-money." Once the deal closes, the new symbol will be CNOO. Barron's seems to like Canoo, but the magazine did not put a value on it in a recent article.Let's see if we can estimate what will happen with the stock. First, we have to estimate its present market capitalization. I believe its present market cap is now $705 million, even though the warrants would bring in $300 million if exercised (i.e., not in a "cashless" exercise). The company has announced an additional $300 million from a private investment in public equity (PIPE) deal at $10 per share. This results in effectively about 87.5 million shares outstanding. That gives HCAC stock a $914 million market cap on a "see-through" basis.Moreover, with its $600 million in capital raised, the effective market cap is about $1.514 million. Now we can estimate if this is an adequate valuation.Probably not. Even if we gave the stock a 3 times revenue multiple, or $4.293 billion, and discounted it by 15% for 2 years, the market value should be $3.25 billion. That is 114% higher than today's price. * 9 Top Stocks to Buy for a Weakened Dollar In other words, HCAC stock is worth at least $22.38 per share, over twice its present price. At a higher revenue multiple, the stock is worth even more. Megalith Financial Acquisition Corp (MFAC)Source: apichon_tee/ShutterStock.com Merger Target: BankMobile Technologies (Digital Banking Company)This is a smaller deal, but the merger was announced on Aug. 6 between MFAC and BankMobile. The latter is "one of the largest digital banking platforms in the country with over 2 million accounts." BankMobile provides its "Banking-as-a-Service" (BaaS) to institutes of higher learning using its BankMobile Disbursements. It reaches more than five million students across the country.The deal is valued at $140 million and will provide $20 million to the company. The key to understanding this deal is that BankMobile is not a bank. It is a technology platform. It is a division of Customers Bank, based in Western Pennsylvania with $17.9 billion in assets.I find this arrangement very strange for investors. So far, it is not clear to me how much of this "division" of Customers Bank that the public will own. For example, who has the right to declare dividends -- the board of BankMobile or the board of Customers Bank?This is a very small deal. I believe that on a "see-through" basis, including the $20 million that will be raised, the market capitalization is about $97 million. This is based on MFAC's present price of $10.28 per share.Frankly, the deal is too small and too obscure for most investors. I also don't see any value proposition here. I can't find the bargain element which is essential for investment consideration.In summary, I have put together a short table that summarizes most of the main elements of these SPAC stocks deals. You can see below that this table shows my estimates of their effective market values. And it also shows the potential upside -- see the far right-hand column. Click to EnlargeSource: Mark R. Hake, CFA Most of these deals have a significant upside. In fact, I would urge you to study their documents carefully, since in some cases it might be worthwhile to buy the warrants or the units instead of the common stocks of the SPAC stocks. I will write about this sometime in the near future, describing the upside and risks.As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. Mark Hake runs the Total Yield Value Guide, which you can review here. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post 5 SPAC Stocks With Recently Agreed On Merger Deals to Watch appeared first on InvestorPlace.

SHAREHOLDER ALERT: WeissLaw LLP Investigates Hennessy Capital Acquisition Corp. IV
8/19/2020 10:45:00 PM

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Hennessy Capital Acquisition Corp. IV ("HCAC" or the "Company") (NASDAQ: HCAC) in connection with HCAC's merger with privately-held Canoo Holdings Ltd. ("Canoo"). Under the terms of the proposed transaction, HCAC will acquire Canoo through a reverse merger that will result in Canoo becoming a publicly-listed company. The deal has a pro forma equity value of approximately $2.4 billion.

Everything You Need to Know About the Newest Electric-Vehicle Maker—Canoo
8/19/2020 2:29:00 PM

It is a little different than other EV companies investors are familiar with. For starters, it wants to offer its vehicles as a subscription.

EV Maker Canoo To Go Public Via SPAC Merger At $2.4B Valuation By Year-End
8/19/2020 2:46:03 AM

Canoo Holdings Ltd, an electric vehicle company, announced Tuesday it was going public later in 2020 at a valuation of $2.4 billion and will commence vehicle deliveries by 2020, Reuters reported.What Happened The California-based startup already has a partnership with South Korea's Hyundai Motor Co (OTC: HYMTF) and will merge itself with a special purpose acquisition company to go public, according to Reuters.The agreement with Hennessy Capital Acquisition Corp IV (NASDAQ: HCAC) is likely to be concluded by the fourth quarter and the new entity would reportedly be called Canoo Inc, whose shares will trade on the Nasdaq Stock Market with the ticker "CNOO."The deal will raise $607 million, which includes additional funds from BlackRock Inc (NYSE: BLK), as well as other investors. Hennessy raised $300 million in its IPO March last year.The reverse-merger announcement takes place in the backdrop of the rising popularity of EVs and burgeoning valuation of market leader Tesla Inc (NASDAQ: TSLA), whose shares have returned 352% year-till-date.Why It Matters Canoo's low-rise platform can be used to make a variety of EV vehicles, according to Reuters. The first of its vehicles would be a seven-seat van available in 2022, after which the company plans to release a small commercial delivery vehicle in 2023 and a sports sedan in 2025, CEO Ulrich Kranz said.The executive disclosed the company's plans to expand to China and sell its vehicles through a subscription model instead of through traditional dealerships. The EV maker projected revenue in 2024 to be $1.43 billion and profit at $188 million at a conference call. The SPAC model of going public is gaining traction among EV companies. In June, Nikola Corporation (NASDAQ: NKLA) went public after merging with VectoIQ Acquisition.Fisker Inc has also said it plans to go public via a merger with blank check company Spartan Energy (NYSE: SPAQ) in October.Self-driving vehicle radar firm Velodyne Lidar Inc. announced last month it was similarly going public through a merger with Graf Industrial Corp (NYSE: GRAF).Price Action Hennessy shares closed nearly 1.8% lower at $10.49 on Tuesday.See more from Benzinga * Apple Revamps Music Radio Service With A Rebranded Beats 1, And Two New Stations * SoftBank's .9B US Stock Bets Include Amazon, Netflix, Google, Tesla * Tesla In A Simmering Discord With Chinese E-commerce Giant Pinduoduo Over Discounted Model 3 Sedans(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Hennessy Capital Acquisition Corp. IV (Nasdaq - HCAC)
8/18/2020 10:56:00 PM

BALA CYNWYD, PA / ACCESSWIRE / August 18, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Hennessy Capital Acquisition Corp.

Another EV Company Is Going Public. Here’s What Separates It From Tesla and All the Rest.
8/18/2020 7:01:00 PM

Canoo is a self-described business-to-consumer electric-vehicle company. Drivers, essentially, rent a futuristic looking VW-type van.

EV developer Canoo to go public via reverse merger with 'blank check' company Hennessy Capital Acquisition
8/18/2020 1:33:00 PM

Special purpose acquisition, or "blank check" company, Hennessy Capital Acquisition Corp. has jumped on the electric vehicle bandwagon, as it announced a reverse merger with EV maker Canoo Holdings Ltd. The deal will provide $600 million in gross proceeds to Canoo, which will use be used to support the production and launch of EVs featuring Canoo's "skateboard" technology. After the deal closes, the combined company will be named Canoo Inc. and the stock will be listed on the Nasdaq exchange under the ticker symbol "CNOO." Canoo's skateboard platform can support a wide range of business-to-consumer and business-to-business vehicle configurations. The deal comes at a hot time for SPACs, IPOs and EV, as the Renaissance IPO ETF has rallied 27.9% over the past three months, while EV maker Tesla Inc.'s stock has more than doubled (up 133.7%) and the S&P 500 has gained 14.7%.

Tesla Rallies 40% in One Week as Investors Can't Get Enough
8/18/2020 1:20:11 PM

Tesla (NASDAQ:TSLA) has rallied almost 40% over the past week. To be fair, Tesla said a week ago that its board of directors had approved a five-for-one stock split to make ownership more accessible -- that goes into effect Aug. 31. Just four analysts have a buy rating on Tesla shares, while 13 say hold and 11 say sell.

Electric Vehicle Company Canoo To List On Nasdaq Through Merger With Hennessy Capital Acquisition Corp IV
8/18/2020 11:00:00 AM

Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) from the ground up, and Hennessy Capital Acquisition Corp. IV ("HCAC") (NASDAQ: HCAC), a special purpose acquisition company, today announced they have entered into a definitive agreement for a business combination that would result in Canoo becoming a publicly listed company. Upon closing of the transaction, the combined operating company will be named Canoo Inc. and will continue to be listed on the Nasdaq Stock Market under the ticker symbol "CNOO."