At the Company’s Annual Meeting of Stockholders held on December 6, 2024 (the "Annual Meeting”), the Company’s stockholders granted the Company’s board of directors (the "Board”) the discretion to effect one or more consolidations of the issued and outstanding shares of the Company’s Common Stock with each reverse stock split ratio ranging from 1:2 up to 1:30 through an amendment to its Second Amended and Restated Certificate of Incorporation; provided that (i) the Company shall not effect reverse stock splits that, in the aggregate, exceed 1:60 and (ii) any reverse stock split is completed prior to the one-year anniversary of the date on which the reverse stock split proposal is approved by the Company’s stockholders.
Canoo’s transfer agent, Continental Stock Transfer & Trust Company ("Continental”), will aggregate all fractional shares of our Common Stock and sell them as soon as practicable after the Effective Date at the then-prevailing prices on the open market, on behalf of those stockholders who would otherwise be entitled to receive a fractional share of our Common Stock as a result of the reverse stock split.
JUSTIN, Texas, Dec.20, 2024 (GLOBE NEWSWIRE) -- Canoo Inc.(NASDAQ: GOEV), ("Canoo” or the "Company”), an advanced high-tech mobility company, announced today that it will effect a 1-for-20 reverse stock split of its common stock, par value $0.0001 per share ("Common Stock”), that will become effective on December 24, 2024, at 8:00 a.m., Eastern Time ("Effective Date”).
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