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Canoo | 8-K: Current report

SEC announcement ·  Mar 8 06:05
Summary by Moomoo AI
On March 7, 2024, Canoo Inc. announced the filing of a Certificate of Amendment to effectuate a 1-for-23 reverse stock split of its common stock, which became effective on March 8, 2024. The reverse stock split resulted in every 23 shares of issued and outstanding common stock, including treasury shares, being combined into one share. As a consequence, the number of shares of common stock available for issuance under the company's equity incentive plans and the number of shares issuable pursuant to equity awards were proportionately adjusted. The exercise prices of outstanding options and equity awards were also adjusted accordingly. The reverse stock split did not materially alter any stockholder's percentage ownership in Canoo Inc., except for minor changes due to the elimination...Show More
On March 7, 2024, Canoo Inc. announced the filing of a Certificate of Amendment to effectuate a 1-for-23 reverse stock split of its common stock, which became effective on March 8, 2024. The reverse stock split resulted in every 23 shares of issued and outstanding common stock, including treasury shares, being combined into one share. As a consequence, the number of shares of common stock available for issuance under the company's equity incentive plans and the number of shares issuable pursuant to equity awards were proportionately adjusted. The exercise prices of outstanding options and equity awards were also adjusted accordingly. The reverse stock split did not materially alter any stockholder's percentage ownership in Canoo Inc., except for minor changes due to the elimination of fractional shares. Stockholders holding shares in 'street name' through brokerage accounts had their accounts automatically adjusted. Canoo's common stock began trading on a split-adjusted basis on The Nasdaq Capital Market under the same ticker symbol 'GOEV' with a new CUSIP number. The publicly traded warrants under 'GOEVW' also saw an adjustment in the number of shares of common stock issuable upon exercise, with every 23 warrants now exercisable for one share at a new exercise price of $264.50 per share.

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