Canoo Inc.: Nasdaq/NYSE listing notice — Canoo receives Nasdaq deficiency notice for bid price below $1; shareholders OK reverse split

Canoo Inc.

Nasdaq notified Canoo on Dec 4, 2024 that bid price below $1 for 30 consecutive days; compliance deadline June 2, 2025.
Stockholders at Dec 6 annual meeting approved reverse stock split authority up to 1:30 (aggregate 1:60) to regain listing compliance.
Shareholders also approved issuance of shares to Yorkville under July 2024 PPA and lowered floor price to $0.20 per share.
Approved adding 45M shares to 2020 equity incentive plan and 1M shares to ESPP; all director nominees elected.
Ratified Deloitte & Touche as independent auditor for FY2024.

item 3.01 item 5.07

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 1.0

Canoo Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

December 4, 2024, Canoo, Inc. (the “Company”) received notice from The Nasdaq Stock Market (“ Nasdaq ”) that the closing bid price for our common stock had been below $1.00 per share for the previous 30 consecutive business days, and that we are therefore not in compliance with the minimum bid price requirement for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (“ Rule 5550(a)(2) ”). Nasdaq’s notice has no immediate effect on the listing or trading of our common stock on The Nasdaq Capital Market. The notice indicates that we will have 180 calendar days

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Source: SEC EDGAR

accession 0001104659-24-126294

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