Reverse IPO Will Bring Electronic Vehicle Maker Canoo Public

Hennessy Capital Acquisition Corp IV Ltd. (NASDAQ: HCAC), a wholly owned subsidiary of Hennessy Capital LLC, has filed paperwork with the SEC to enter into a merger with the privately owned electronic vehicle maker Canoo. The merger will see HCAC and Canoo Holdings Ltd. joined together with Canoo surviving the merger. However, a second part of the merger will see Canoo joining with Hennessy Capital LLC with Hennessy Capital surviving this merger. The end result will see Canoo being a wholly-owned subsidiary of Hennessy Capital with Canoo publicly trading on the NASDAQ under the ticker symbol CNOO. The merger registers 190 million shares with a proposed maximum aggregate offering price of $2.945 million. This consists of 175 million newly issued shares of Hennessy Capital common stock valu...

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