Why Canoo (GOEV) Stock Hit A New 52-Week Low Today

Canoo Inc GOEV shares are trading lower by 27.20% to $0.91 Monday morning after the company announced a $52.5 million registered direct offering of 50 million shares at $1.05 per share.

What Else?

Canoo says the closing of the offering is expected to occur on or about February 8, subject to the satisfaction of customary closing conditions.

The gross proceeds from the offering are expected to be approximately $52.5 million. The company intends to use the net proceeds from the offering for general working capital purposes.

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According to data from Benzinga Pro, Canoo Inc has a 52-week high of $6.44 and a 52-week low of $0.91.