EV startup Canoo under SEC investigation
Image: Canoo The Securities and Exchange Commission has opened an investigation into newly public electric vehicle startup Canoo, CEO Tony Aquila shared on a conference call on Monday.
The probe is broad, though the startup said in a regulatory filing that the SEC has characterized it as a fact-finding inquiry," and that the agency has not yet concluded whether anyone violated the law. It covers Canoo's merger with a special purpose acquisition company (or SPAC), plus its operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics, along with the recent departures of certain of the Company's officers."
Canoo says it plans to provide all requested material and fully cooperate. Aquila declined to...