SEC Investigation

Kimberly Redmond | |

The US Securities and Exchange Commission (SEC) is investigating California-based electric vehicle startup Canoo Inc (Nasdaq: GOEV), which went public in December 2020 following a merger with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp.

According to Canoo's Form 10-Q for the first quarter filed on Monday, the “fact-finding inquiry” will cover Hennessy’s initial public offering and merger with Canoo, along with Canoo’s “operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics.”