BENTONVILLE, Ark. — Electric vehicle startup Canoo Inc., which plans to move its headquarters to Bentonville, announced an agreement Monday to sell $52.5 million worth of discounted stock to raise money.
Canoo, which has been burning through cash, said the funds will be used for "general working capital purposes."
The sale price of $1.05 per share was 20 cents lower than the closing price Friday. Shares have since fallen below the discounted price.
To read more about Canoo's recent stock sales, please visit our content partners at Arkansas Business here.
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