Canoo's shares sink after EV maker agrees to sell $52 million in discounted stock
Publishing timestamp: 2023-02-06 16:02:21
Summary
Canoo's stock was sharply lower on Monday after the electric vehicle startup announced it would sell discounted shares to raise $52.5 million. The deal will dilute the value of existing shareholders' positions and add between 50 million and 100 million shares to the company's current outstanding share count. The proceeds will be used for general working capital purposes.
Sentiment: NEGATIVE
Tickers: GOEV,
Keywords: stock markets, transportation, business news, business, canoo inc, climate, electric vehicles, technology,
Source: https://www.cnbc.com/2023/02/06/canoo-goev-shares-stock-offering.html