- Special meeting of stockholders to approve proposed business combination with … Electric-vehicle maker Canoo will merge with 'blank-check' company to raise $600 million in a public offering (HCAC) Matthew Fox. Canoo, a company that is developing passenger and commercial electric vehicles (EVs) based on a highly versatile skateboard platform, is now all set to go public by merging with the Special Purpose Acquisition Company (SPAC), Hennessy Capital Acquisition Corp IV (NASDAQ:HCAC). As a refresher, Canoo’s star attraction is its highly flexible and modular skateboard platform that enables rapid development of electric vehicles – the entire process concludes in 18 to 24 months – at a substantially reduced cost. All rights reserved. Frequently the merger process can take 3 months or longer, to finalize once a deal has been announced. On the other hand, the larger variant will offer 500 cubic feet of cargo space and a maximum range of 190 miles, again based on an 80-kWh battery pack. Of course, today’s development follows another milestone last week, when Canoo unveiled a new multipurpose electric vehicle aimed at last-mile deliveries and other small businesses. The special meeting of shareholders for @Canoo $HCAC confirms all proposals were approved. They’re also powerful and practical. Investors interested in owning QuantumScape can start buying KCAC stock before the merger closes. Moreover, the combined company will adopt the name Canoo Inc. Hennessy Capital shares are up over 1 percent today after the meeting. The merger will see HCAC and Canoo Holdings Ltd. joined together with Canoo surviving the merger. The automaker plans to … Hennessy Capital Acquisition Corp. IV (NASDAQ: HCAC) is now merging with Canoo Holdings Ltd., and it will create a reverse merger into a public … 10/20/2020 | 04:02pm EST. — Kjetill Stjerne 🌿 (@KjetillStjerne) December 21, 2020. The Business Combination Proposal: To approve and adopt the merger agreement, dated the 17th of August 2020. Crucially, the company’s skateboard platform offers direct integration of battery modules and features the flattest and lowest profile in the industry, thereby maximizing interior space and lowering costs. Electric-vehicle-recharging network ChargePoint said on Thursday that it will go public via a $2.4 billion merger with … If you’re going to start a position in electric vehicles (EVs) now, you’d might as well try something that’s different from the rest. This one’s a fast mover, and you’ll definitely want to be on the right side of the trade. 333-248923) (as amended, the “Registration Statement”), which includes a definitive proxy … Arrival Termed One of the Best-Positioned Electrification Plays Currently in the Market as the Company Gears up To Merge With the SPAC CIIG Merger Corp. (NASDAQ: CIIC), Lucid Motors and the SPAC Churchill Capital Corp. 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Copyright © If Canoo is an exciting company, then the price action of HCAC stock is equally exciting. If you’re going to start a position in electric vehicles (EVs) now, you’d might as well try something that’s different from the rest. There’s nothing dull about Hennessy Capital (NASDAQ:HCAC), though it takes a little bit of digging to see HCAC stock’s value since Hennessy is just a shell company. On track to close the previously announced merger with Hennessy Capital Acquisition Corp. IV ("HCAC") (Nasdaq: HCAC) in the fourth quarter of 2020 News provided by Canoo But Pounce on the Lucid Motors Merger, Top SPAC Merger News This Week: Lucid Motors, EVgo, Joby Aviation and 7 More Hot SPACs, CCIV Stock: Comparing Lucid Motors to Tesla as ‘Merger Monday’ Hopes Soar, How the Internet Sent GameStop Stock Up 1,000% — And Where It’s Going Next, Lifestyle Vehicle: 250+ mile range, charge time of 20% to up to 80% in 28 minutes, top speed of 125 mph, Sport Vehicle: 300+ mile range, 4 or 5 passenger seat capacity, comparatively small footprint, Delivery Vehicle: 200+ mile range, total cargo volume ranging from 6.2 to 11 cubic meters, approximate vehicle weight of 2,600 kilograms. TRNE warrant price jumped 2.5x from $0.95 to $2.50. Simple as that. Now that you know what’s coming, you can position yourself accordingly and celebrate the completion of a potentially game-changing merger. Jan. 22, 2021, Don’t Buy CCIV Stock Now. Hennessy Capital Acquisition Corp. (NASDAQ: HCAC) has announced a reverse merger with electric vehicle maker Canoo Holdings. 2021 InvestorPlace Media, LLC. At that meeting, shareholders will vote on its pending acquisition of Canoo. Expected to start retailing in 2022 from $33,000 onward, this van is the second addition to the company’s product portfolio, following the announcement of a subscription-only van last year. Clearly, the bulls are firmly in control of HCAC stock. The company’s 52-week high price is 14.49, which means current price is +28.34% above from all time high which was touched on 11/30/20. wool HCAC/GOEV go down after the merger Advice Request I’ve seen a lot of articles advising to sell before the merger date, but i’ve seen some people on here intending to hold way past the merger. Other Events. Analysis includes total gross proceeds, announcement deadline date (and number of months left until deadline), % held in trust, and list of symbols for all trading securities included in the unit. In particular, Hennessy is enacting a business combination with Canoo, which seeks to transform urban transportation as we know it. Bold and forward-thinking investors should be willing to take a chance on HCAC stock as the potential for disruption and profit are certainly there. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system —with returns rivaling even Warren Buffett. Finance. That gives HCAC stock a $914 million market cap on a “see-through” basis. There were quick price pops along the way, but those didn’t last too long. The electric vehicle market is red-hot right now, so I certainly would not recommend trying to short-sell HCAC. Then came the explosion in November and December. Even though the November elections are over (I think), there’s a vote that’s coming on Dec. 21 which could have a profound impact on the HCAC stock price. It’s fine if you didn’t understand every word of that description. Moreover, in a departure from the industry norms, Canoo’s Lifestyle and Sport models will be available to the consumers via an innovative subscription business model. This design features a “unique, self-contained, independently drivable rolling chassis” as well as “the market’s first true steer-by-wire platform, which, along with a composite leaf spring suspension, enables the skateboard’s flat structure and maximizes vehicle interior space.”. Yet, that shell company is bringing a very exciting and unique electric vehicle company to the markets. You can sell it at market rate, or you can exercise for shares if you want to hold commons. This was a long time coming, as Hennessy Capital first went public in February of 2019 and the business combination with Canoo was announced back in August of this year. Canoo, the Los Angeles-based electric vehicle startup, has struck a deal to merge with special purpose acquisition company Hennessy Capital Acquisition Corp., with a … December 14, 2020. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. Today, Hennessy Capital announced a special shareholder meeting will take place Dec. 21. The Business Combination Proposal: To approve and adopt the merger agreement, dated the 17th of August 2020. The Election of Directors Proposal: To elect nine directors to serve on the board. In the run-up to today’s vote, Hennessy Capital announced on the 18th of December that the combined company would have access to over $625 million in proceeds after the lapse of the pre-merger share redemption window. Item 8.01. Interestingly, HCAC stock taxied down the runway for many months before the big takeoff occurred. With that, hopefully the Canoo special purpose acquisition company (SPAC) merger will be finalized. The closer the merger date, the higher the price will go. HCAC stock has since risen to $10.60 per share, up 6% from the company’s IPO. Upon completion of the merger, the expiration date of the warrant is reset to 5 years from the date … Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. As far as financial projections are concerned, the company expects to earn a revenue of $120 million in 2021. The Charter Proposals: To increase the number of authorized common shares to 500 million and the number of authorized preferred shares to 10 million; to establish the 2/3rd majority as the threshold for altering, amending, or repealing the bylaws of Hennessy Capital as well as the articles V, VI, VII, and VIII of the charter; to approve and adopt the proposed charter. A download-able weekly list of all SPAC (Special Purpose Acquisition Company) IPO transactions. How different will Canoo’s debut lifestyle, sport and delivery vehicles be? HCAC stock closed lower today despite a new vehicle unveiling from EV startup Canoo. If you’re ready and willing to take a chance on an electric vehicle company that’s unafraid to transform an entire industry, HCAC stock should be on your radar. quotes delayed at least 15 minutes, all others at least 20 minutes. TRNE announced on August 26 th its merger with the metal 3D printing company Desktop Metal Inc. for approximately $2.5 billion. Moreover, with its $600 million in capital raised, the effective market cap is about $1.514 million. If you’re going to invest in HCAC stock, then you’ll need to learn what a modular skateboard is. Article printed from InvestorPlace Media, https://investorplace.com/2020/12/hcac-stock-offers-an-electric-vehicle-spac-with-a-difference/. Simple as that. LOS ANGELES, Oct. 20, 2020 /PRNewswire/ -- Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform, announced today the appointment of Tony Aquila as Executive Chairman as it prepares for the closing of the announced merger with Hennessy Capital Acquisition Corp. IV … This is a stock that went from a real sleeper to a moon shot very quickly. NEW YORK, Dec. 07, 2020 (GLOBE NEWSWIRE) -- Hennessy Capital Acquisition Corp. IV (NASDAQ: HCAC, HCACW, HCACU) (“HCAC”) today announced that the U.S. Securities and Exchange Commission (“SEC”) has declared effective its registration statement on Form S-4 (File No. Month after month, HCAC was magnetized to the $10 area. That’s the day when Hennessy Capital has planned a special shareholder meeting. Posted by Patrick McLoughlin September 1, 2020 November 24, 2020 Posted in Technology stocks, US stocks Tags: HCAC buy or sell, HCAC IV merger, HCAC merger, HCAC merger date, HCAC merger news, HCAC merger with can, HCAC stock merger Post navigation This top-line metric, however, is expected to swell to $1.43 billion by 2024 and to a whopping $4.12 billion by 2026. On December 7, 2020, Hennessy Capital Acquisition Corp. IV (“HCAC”) issued a press release (the “Press Release”) announcing that (i) its registration statement on Form S-4 (File No. The closer the merger date, the higher the price will go. Lucid Motors and the SPAC Churchill Capital Corp. IV (CCIV) Keep Merger Hope Alive With a New Statement That Does Not Deny the Business Combination Possibility. All rights reserved. Put it this way: CEO Ulrich Kranz envisioned the Canoo as a spaceship, and that’s a fairly accurate description of how the company’s vehicle prototypes look. Canoo is an unusual name, but then, these are unusual vehicles. Hennessy Capital shareholders have now approved all tabled proposals, paving the way for the closure of the merger agreement with Canoo. Nasdaq HCAC (EV producer, Canoo/CNOO will use this SPAC for reverse-merger) is the latest EV play in the market and with how is everything going on, we could see $20 in a week from now. Hennessy Capital Acquisition Corp. IV stock is now 16.34% up from its year-to-date (YTD) trading value. Check out the basic stats: All of these vehicles will be based on Canoo’s proprietary skateboard platform. If … The essential thing to know is that Canoo’s vehicles will offer drivers a smooth ride in a surprisingly roomy and robust next-generation electric vehicle. As of Dec. 11, HCAC shares were still trading in the $20 area. With a single monthly payment, consumers will be able to avail of a comprehensive list of perks, including standard maintenance, warranty, insurance, and vehicle charging. For latest tech news in your inbox, once a day! That’s 325% return on your initial investment! At $20 common – $11.50 strike price, your warrant is intrinsically worth $8.50 each. HCAC (EV producer, Canoo/CNOO will use this SPAC for reverse-merger) is the latest EV play in the market and with how is everything going on, we could see $20 in a week from now. The Nasdaq Proposal: To approve the issuance of 175 million Class A common shares, including a provision of an additional 15 million shares, to Canoo equity holders; to approve the issuance of 32.325 million Class A common shares to PIPE investors. With a vote on the Hennessy-Canoo reverse merger coming up soon, HCAC stock is worth considering today. Well, the virtual meeting was convened as per the schedule, with the following proposals placed on the docket for deliberation: The Only Thing Certain About the Merger Between Microvast and Tuscan Holdings Corp. (THCB) Is That Nothing Is Certain. On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. HCAC Stock saw the intraday high of $12.10 and lowest of $11.17 per share. The merger takes off and by redemption date after merger, the common stock has risen to $20. The Stock Incentive Plan Proposal: To approve and adopt the equity incentive award plan. As we’ll discover, Canoo isn’t just different; it’s disruptive, but in a good way. (Clue: it has nothing to do with Tony Hawk.). Nothing new happened, no new SEC filing, no announcements, no nothing. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. …and seems like I … Shareholders will vote on Hennessy’s pending acquisition of Canoo at that meeting. Yet, there’s more to Canoo’s electric vehicle lineup than just looks. Aug. 18, 2020, … September 26, 2020 Hennessy Capital Acquisition Corp IV Ltd. (NASDAQ: HCAC), a wholly owned subsidiary of Hennessy Capital LLC, has filed paperwork with the SEC to enter into a merger with the privately owned electronic vehicle maker Canoo. All rights reserved. In this case, Hennessy Capital Acquisition Corp IV, anticipates the closing will be in the 4th quarter of 2020. Some posts on Wccftech.com may contain affiliate links. Importantly, investors should prepare for Canoo to trade under a new ticker symbol, GOEV, on the Nasdaq Exchange. When Its Merger With EV Maker Canoo Closes, HCAC Stock Will Fly HCAC stock is worth 60% more when it merges By Mark R. Hake , CFA Dec 17, 2020, 7:10 am EST December 17, 2020 Congratulations @canoo! © 2021 NewAge ADS, LLC. Merger vote is done and 100% successful. The Adjournment Proposal: To adjourn the special meeting to a later date. Copyright © 2021 InvestorPlace Media, LLC. 1125 N. Charles St, Baltimore, MD 21201. Sep 24, 2020 12:21 PM EDT. With hardly any warning, HCAC more than doubled in price, topping out at $22.43. The Employee Stock Purchase Plan Proposal: To approve and adopt the employee stock purchase plan. We reported a few days back that Hennessy Capital shareholders would vote on the proposed merger agreement with Canoo during a special meeting on the 21st of December. Once that occurs, the shares of the combined company will start to trade on the NASDAQ under the ticker symbol GOEV (NASDAQ: GOEV). Search for ticker symbols for Stocks, Mutual Funds, ETFs, Indices and Futures on Yahoo! The smaller variant of the new van will offer a cargo space of 230 cubic feet and a maximum range of 230 miles, based on an 80-kWh battery pack. December 07, 2020 09:00 ET | Source: Hennessy Capital Acquisition Corp. IV. Form 8-K will be filed now with SEC. Hennessy Capital Stock Offers an EV SPAC With a Difference, Louis Navellier and the InvestorPlace Research Staff, has planned a special shareholder meeting, “unique, self-contained, independently drivable rolling chassis”, the biggest tech revolution of this (or any) generation, 7 Mega-Cap Stocks With Solid Foundations, A Play on the Biggest Scientific Breakthrough of the Century, What Did the Stock Market Do? Canoo plans to engage an OEM to produce its vehicles, thereby reducing its CAPEX requirements substantially. 1125 N. Charles St, Baltimore, MD 21201. Canoo’s vehicles will definitely look different, but that’s not necessarily a bad thing. Md 21201 will see HCAC and Canoo Holdings Ltd. joined together with Canoo surviving the agreement. $ 11.17 per share definitely want to hold commons stock as the potential for disruption profit. Hennessy-Canoo reverse merger coming up soon, HCAC stock is equally exciting new filing... 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