It seems like every few months an electric vehicle start-up that issued an IPO after merging with a special purpose acquisition company, or SPAC, becomes the subject of a US government investigation. Today, it's Canoo's turn. The Securities and Exchange Commission (SEC) has opened an investigation into the Los Angeles-based EV startup, according to newly appointed CEO Tony Aquila. Aquila revealed this during a conference call with investors earlier this week. For now, the SEC is purely on a "fact-finding" mission to determine whether or not Canoo broke the law during its SPAC merger process.The investigation will cover 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," according to the SEC filing.
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