Written by Cláudio Afonso | LinkedIn | X
The electric vehicle (EV) manufacturer Canoo announced on Tuesday it will report the second quarter earnings on August 14 after the market close.
The results will be followed by a conference call as shareholders expect updates from the several pilot programs the company has been involved in.
Last week, when contacted by EV, a Canoo spokesperson said the company “produced 22 and delivered 9” vehicles as of the last earnings call adding that the EV maker also “delivered all 6 USPS vehicles” until then.
Last month, the CFO said the company is “at the stage of production ramp”. Ethridge said that Canoo will, “overtime”, set up “manufacturing in international locations” besides its manufacturing plant in Oklahoma, United States.
The conference call will be hosted by the chief executive Tony Aquila, the CFO Greg Ethridge, and Ramesh Murthy, Senior Vice President, Finance and Chief Accounting Officer.
On Monday, Canoo shares closed 6.52% lower at $2.15 per share after announcing a prepaid advance agreement with the investment firm YA II PN. The agreement allows the EV startup to request up to $100 million until July 19, 2026.
The initial advance of $15 million will be offset by the issuance of shares priced at $2.70 each. The net proceeds of the initial advance are approximately $14.1 million after fees, according to the EV maker.
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Last week, Canoo announced that it issued substantial stock grants to seven members of its Board of Directors as part of the company’s 2020 Equity Incentive Plan, according to SEC Form 4 filings.
The company’s Board of Directors, including the Lead Independent Director and six other Directors reported the acquisition of 92,765 restricted stock units (RSUs) each.
These RSUs were granted as part of Canoo’s annual equity awards to its directors and will fully vest on either July 15, 2025 or the company’s 2025 annual meeting, as long as the directors remain in service.
Written by Cláudio Afonso | LinkedIn | X
