Canoo Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Business Combination (Tables)

Business Combination (Tables)

12 Months Ended

Dec. 31, 2020

Business Combination

Reconciliation of business combination to Statement of Cash Flows and Statement of Changes in Equity


		Recapitalization
Cash - HCAC's trust and cash (net of redemptions)		$	306,354
Cash - PIPE			323,250
Less transaction costs and advisory fees paid			(22,508)
Net Business Combination and PIPE financing			607,096
Add: non-cash net assets assumed from HCAC			40
Net contributions from Business Combination and PIPE financing		$	607,136

Schedule of shares issued following consummation of the Business Combination


		Number of Shares
Common stock, outstanding prior to Business Combination		29,730,204
Less redemption of HCAC shares		(9,571)
Common stock of HCAC		29,720,633
HCAC Founder Shares		7,503,750
Shares issued in PIPE		32,325,000
Business Combination and PIPE financing shares		69,549,383
Legacy Canoo shares⁽¹⁾		166,155,697
Total shares of Common Stock immediately after Business Combination		235,705,080

(1)	The number of Legacy Canoo shares was determined from the 134.1 million shares of Legacy Canoo ordinary shares outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio of 1.239434862. All fractional shares were rounded down.