EV developer Canoo to go public via reverse merger with ‘blank check’ company Hennessy Capital Acquisition

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 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,

Source: MarketWatch