#TradeTalks: How stocks performed under President Trump and what’s in store for earnings. Electric-vehicle maker Canoo has announced it is going public via a reverse merger.It has a $10 share price and $2.4 billion valuation. PO Box 122Syosset, NY 11791(516) 876-8006team@dealflow.com. On Dec. 22, GOEV stock started trading at an opening price of $22.75, following the merger between Canoo, formerly a private company, and Hennessy Capital Acquisition Corp. IV, a SPAC. On December 21, 2020 (the “Closing Date”), Canoo Inc., a Delaware corporation ... First Merger Sub, Legacy Canoo or the holders of any of the following securities: (a) At … On the date of publication, Mark R. Hake had a long position in Tesla (TSLA). Is Affirm (AFRM) Stock The Best Fintech Stock To Buy Other Than PayPal & Square? Moreover, subscription “owners” of Canoo vehicles do not have to pay registration costs, maintenance costs or deal with the issues surrounding residual value. Moreover, the company itself says that its sum-of-the-parts valuation should be at least $6.592 billion. Mark Hake runs the Total Yield Value Guide which you can review here. Canoo and HCAC will host a joint investor conference call to discuss the business and the proposed transaction today, August 18, 2020 at 8:00 AM ET. As a result, the EV-to-sales multiple of 3.01x (i.e., $3.566 billion divided by $1.164 billion). That may or may not happen. Shares of the healthcare SPAC are expected to begin trading today on the Nasdaq. At $20 common - $11.50 strike price, your warrant is intrinsically worth $8.50 each. Rights to redeem shares expire Dec. 17, the SPAC said in a press release. LOS ANGELES, CA (August 18, 2020) – Canoo Holdings Ltd. (“Canoo”), a company developing breakthrough electric vehicles (EV) from the ground up, and Hennessy Capital Acquisition Corp. IV (“HCAC”) (NASDAQ: HCAC), a special purpose acquisition company, today announced they have entered into a definitive agreement for a business combination that would result in Canoo becoming a … Canoo develops electric vehicles "with a proprietary and highly versatile EV platform for personal and business use," the company said. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. InvestorPlace is one of America’s largest, longest-standing independent financial research firms. Create your Watchlist to save your favorite quotes on Nasdaq.com. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers. Along with the SPAC merger news, investors also learned that Canoo will reveal a new model Dec. 17. That's 325% return on your initial investment! Therefore, with 244.8 million shares outstanding GOEV stock is worth $26.25 per share. @/i, failureMessage: "A valid email address is required", negate: "true"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom5 = document.querySelector('#form1783 #field5');var field5 = new LiveValidation(dom5, {validMessage: "", onlyOnBlur: false, wait: 300});field5.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. However, a second part of the merger will see Canoo joining with Hennessy Capital LLC with Hennessy Capital surviving this merger. )+)$)/i, failureMessage: "A valid email address is required"});field1.add(Validate.Format, {pattern: /\.\.|\. Aug 19, 2020 11:35AM EDT (RTTNews) - Canoo Holdings Ltd., a Los Angeles-based electric vehicle startup, has agreed to merge with Hennessy Capital Acquisition Corp. … Tesla (NASDAQ:TSLA) said in its Battery Day event in late September that it would have a $25,000 car in three years. Yes! nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? Copy and paste multiple symbols separated by commas. Its enterprise value should at least five times sales to be comparable to other EV makers. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Electric vehicle maker Canoo (NASDAQ: GOEV) is worth 58% more than its Jan. 11 … Canoo is efficiently allocating capital by leveraging this platform and has identified new opportunities significantly increasing its TAM (total addressable market) in both B2B and B2C (business to customer) end markets. Electric vehicle maker Canoo (NASDAQ:GOEV) is worth 58% more than its Jan. 11 closing price $17.05. With that in mind, here are 14 things to know about GOEV stock and the Canoo SPAC merger: Hennessy Capital first came public in February 2019. This is a lease of the EV, but with no definitive lease term and no down payment, both of which are traditionally central elements in car leases. The merger takes off and by redemption date after merger, the common stock has risen to $20. This is way too cheap. - Special meeting of stockholders to approve proposed business combination with Canoo Holdings Ltd. to be held on December 21, 2020 - - Record date … #TradeTalks: Is it time to put the brakes on #EV stocks or are they just getting charged up? You can sell it at market rate, or you can exercise for shares if you want to hold commons. NEW YORK and LOS ANGELES, Dec. 21, 2020 /PRNewswire/ -- Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles ("EV") with a proprietary and highly versatile EV platform for personal and business use, and Hennessy Capital Acquisition Corp. IV ("HCAC") (NASDAQ: HCAC, HCACW), a special purpose acquisition company, announced today the completion … InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Hennessy Capital IV Sets Vote Date on Canoo Merger December 7, 2020 1 minute read Hennessy Capital IV shareholders are set to vote Dec. 21 on the SPAC’s proposed business combination with Canoo Holdings, which designs and manufactures electric vehicles. © 2021, Nasdaq, Inc. All Rights Reserved. Canoo Holdings is joining the rush of electric car stocks going public via a blank-check deal, announcing a reverse merger with Hennessey Capital ().. X. It believes that it will make four times the margin of normal one-time sale manufacturers. That would put its enterprise value at $5.682 billion (5x $1.164 billion). The valuation forecast is based on my analysis of the company and its own valuation from the company’s slide presentation. Therefore, at yesterday’s $17.05 close, GOEV stock carries a market value of $4.173 billion. It recently closed its merger with Hennessey Capital Acquisition Capital IV and GOEV stock now has a $4.02 billion market capitalization. Read more. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. These symbols will be available throughout the site during your session. On track to close the previously announced merger with Hennessy Capital Acquisition Corp. IV ("HCAC") (Nasdaq: HCAC) in the fourth quarter of 2020. Moreover, as the company will receive $607 million in the merger, the pro forma enterprise value (EV) is $3.566 billion (i.e., $4.173 billion minus $607 million). Therefore, the present value of $2.341 billion today is $1.164 billion. With the transaction, Canoo raised $607 million in equity capital in order to make its unique EVs. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;i