---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-114394"
form_type: "8-K"
ticker: null
cik: "0001750153"
company_name: "Canoo Inc."
filed_at: "2024-11-05T23:59:59+00:00"
generated_at: "2026-05-30T05:25:41.469810+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Canoo appoints Kunal Bhalla as CFO, secures $12M facility from CEO affiliate, furloughs 23% of OKC factory workers

## Summary
- Kunal Bhalla appointed CFO effective Oct 31, 2024; Greg Ethridge (CFO) and Hector Ruiz (GC) resigned.
- Entered $12M revolving credit facility with AFV (affiliate of CEO Tony Aquila); initial $3.855M drawn, secured by OKC equipment.
- Workforce reduction: furlough 23% of factory workers (30 employees) in Oklahoma City for 12 weeks.
- Prior $3.845M unsecured note repaid; additional $2M committed for approved purposes under the facility.
- Sean Yan appointed General Counsel and Secretary; Ramesh Murthy named Chief Administrative Officer.

## SEC filing metadata
- accession: 0001104659-24-114394
- form_type: 8-K
- cik: 0001750153
- company_name: Canoo Inc.
- filed_at: 2024-11-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.03, 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/0001104659-24-114394-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/tm2427513d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-114394
- JSON: https://secwatch.observer/filing/0001104659-24-114394.json
- Plain text: https://secwatch.observer/filing/0001104659-24-114394.txt

## Key facts
- Executive change
  Sean Yan was appointed as General Counsel and Secretary at Canoo Inc..
  - Action: appointed
  - Role: General Counsel and Secretary
  source text: On October 31, 2024, Canoo also appointed Sean Yan as General Counsel and Secretary
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/0001104659-24-114394-index.htm
- Executive change
  Hector Ruiz resigned as General Counsel and Corporate Secretary at Canoo Inc..
  - Action: resigned
  - Role: General Counsel and Corporate Secretary
  source text: On October 31, 2024, Greg Ethridge, the Chief Financial Officer of Canoo who previously served as the CFO of Canoo’s SPAC sponsor Hennessey Capital before transitioning to the Company’s Board as the SPAC’s representative and Hector Ruiz, General Counsel and Corporate Secretary of Canoo, notified Canoo of their resignations.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/0001104659-24-114394-index.htm
- Executive change
  Kunal Bhalla was appointed as Chief Financial Officer at Canoo Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On October 31, 2024, Canoo Inc. announced the appointment of Kunal Bhalla as its Chief Financial Officer, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/0001104659-24-114394-index.htm
- Executive change
  Greg Ethridge resigned as Chief Financial Officer at Canoo Inc..
  - Action: resigned
  - Role: Chief Financial Officer
  source text: On October 31, 2024, Greg Ethridge, the Chief Financial Officer of Canoo who previously served as the CFO of Canoo’s SPAC sponsor Hennessey Capital before transitioning to the Company’s Board as the SPAC’s representative and Hector Ruiz, General Counsel and Corporate Secretary of Canoo, notified Canoo of their resignations.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/0001104659-24-114394-index.htm
- Executive change
  Ramesh Murthy was appointed as Chief Administrative Officer at Canoo Inc..
  - Action: appointed
  - Role: Chief Administrative Officer
  source text: and Ramesh Murthy, who was serving as its Senior Vice President Finance and Chief Accounting Officer to the additional position of Chief Administrative Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750153/000110465924114394/0001104659-24-114394-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.