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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 24, 2025
CANOO INC.
(Exact name of registrant as specified in its charter)
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| Delaware | 001-38824 | 83-1476189 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| | | | | |
19951 Mariner Avenue Torrance, California | 90503 |
| (Address of principal executive offices) | (Zip Code) |
(424) 271-2144
(Registrant’s telephone number,
including area code)
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| | | | | |
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | | Trading symbol(s) | | Name of each exchange on which registered |
| Common Stock, $0.0001 par value per share | | GOEV | | The Nasdaq Capital Market |
| Warrants to purchase shares of Common Stock | | GOEVW | | The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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| Item 3.01 | Notice of Delisting of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing |
On January 22, 2025, the Company received a letter from the staff of the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that the Staff has determined that the Company’s securities will be delisted from Nasdaq based on the following factors:
•The Company’s filing for protection under Chapter 7 of the U.S. Bankruptcy Code on January 17, 2025 (the “Filing”) and public interest concerns raised by it;
•Concerns regarding the residual equity interest of the existing listed securities holders; and
•Concerns about the Company’s ability to sustain compliance with all requirements for continued listing on The Nasdaq Stock Market.
The Company does not intend to appeal the Staff’s determination, given the commencement of the bankruptcy proceedings. Therefore, the Company anticipates that trading in the Company’s common stock will be suspended at the opening of business on January 29, 2025, and subsequently delisted from Nasdaq, as indicated in the Staff’s letter.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 24, 2025
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| CANOO INC. |
| | |
| By: | /s/ Kunal Bhalla |
| | Kunal Bhalla |
| | Chief Financial Officer |