But even more interesting, Canoo will not sell its vehicles. This is on page 52 of the slide presentation. The company’s 52-week high price is 14.49, which means current price is +28.34% above from all time high which was touched on 11/30/20. The bottom is that the company says: “One monthly payment, no commitment.”. Hennessy Capital Acquisition Corp IV (NASDAQ:HCAC), a special purpose acquisition corp (SPAC), will merge with a Los Angeles-based electric vehicle maker named Canoo by the end of the year. The closer the merger date, the higher the price will go. NEW YORK, Oct. 23, 2020 /PRNewswire/ -- . LOS ANGELES, Oct. 20, 2020 /PRNewswire/ -- Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform, announced today the appointment of Tony Aquila as Executive Chairman as it prepares for the closing of the announced merger with Hennessy Capital Acquisition Corp. IV … The valuation forecast is based on my analysis of the company and its own valuation from the company’s slide presentation. Canoo’s 2025 revenue is forecast to be $2.341 billion, but we need to discount the revenue to the present. HCAC stock has risen more than 30% during AH on Friday and pre-market session on Monday. Hennessy Capital Acquisition Corp. IV stock is now 16.34% up from its year-to-date (YTD) trading value. Tesla (NASDAQ:TSLA) said in its Battery Day event in late Sept. that it would have a $25,000 car in three years. Canoo says these EVs will be highly efficient to produce and can allow them to modularly design new EVs for different end-users. Electric-vehicle maker Canoo will merge with 'blank-check' company to raise $600 million in a public offering (HCAC) Matthew Fox. Mark on your calendar! Enter your email address to subscribe to Idaho Reporter and receive latest news by email. Nothing new happened, no new SEC filing, no announcements, no nothing. The slide presentation indicates 244.8 million shares will be outstanding by the close of the merger, on which shareholders will vote on Dec. 21. Canoo, the electric-vehicle producer, plans to go public via a reverse merger at a $10 share price and $2.4 billion valuation. Canoo. Editor’s note: This article was updated on Dec. 17, 2020, to update Canoo’s expected ticker. It is the “simplest way to have a single all to yourself for as long as you want (minimum 1 month)” (page 39 of the slide presentation). HCAC’s stockholders of record at the close of business on October 27, 2020 (the “Record Date”) are entitled to vote the shares of common stock of HCAC owned by them at … The slide presentation indicates 244.8 million shares will be outstanding by the close of the merger, on which shareholders will vote on Dec. 21. Second, all of these models will be based on an architecture of what the company calls a “skateboard platform.” This delivers the highest usable interior space in its class. The merger will see HCAC and Canoo Holdings Ltd. joined together with Canoo surviving the merger. HCAC was founded by ... as of the date of this press release. This is based on comparisons with Tesla and Netflix (NASDAQ:NFLX), a subscription-based business model company. Copyright © 2021 InvestorPlace Media, LLC. Shares are now at $20.18, less than half their value at … ". Therefore, at nearly $20 for HCAC stock, the pro forma market capitalization of the combined company is $4.74 billion. Therefore, HCAC stock (CNOO stock) is worth at least 60% more than today. It is anticipated that, upon the completion of the Business Combination, the ownership of New Canoo will be as follows: • current Canoo equity holders will own 175,000,000 shares of New Canoo Common Stock (excluding any PIPE Shares), representing approximately 71.5% of the total shares outstanding; • the PIPE Investors will own 32,325,000 shares of New Canoo Common Stock, representing approximately 13.2% of the total shares outstanding; and. Canoo expects to build 10,000 canoo vehicles in 2022, rising to 60,000 in 2024, and 95,000 in 2025. HCAC | Complete Hennessy Capital Acquisition Corp. IV Cl A stock news by MarketWatch. 2021 InvestorPlace Media, LLC. The deal recently announced on Aug. 18, envisions a reverse merger with Canoo. Hennessy Capital Acquisition Corp. IV is a special purpose acquisition company (or SPAC) which raised $300 million in its IPO in March 2019 and is listed on the Nasdaq Stock Market (NASDAQ: HCACU). 102 votes, 80 comments. In a SEC filling, reviewed by Idaho Reporter, a notice is given that a special meeting in lieu of the 2020 annual meeting of stockholders will be held on December 21, 2020, at 10:00 a.m., Eastern time, via live webcast. When the deal closes its will trade under the symbol GOEV, instead of HCAC. 1125 N. Charles St, Baltimore, MD 21201. You will need the 12-digit meeting control number that is printed on your proxy card to enter the special meeting. He is simply suggesting the possibility. quotes delayed at least 15 minutes, all others at least 20 minutes. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The special meeting will be completely virtual. The HCAC Stock Merger With Canoo Closes Soon, Pushing It Higher Posted by Robert K. Reed on December 7, 2020 0 Comments Hennessy Capital Acquisition (NASDAQ: HCAC) will close its merger deal with Canoo, an electric vehicle maker, on Dec. 21. This could clearly transform the way people think about electric vehicles. Nasdaq This is why Canoo’s business model is different. "give him a break. NOthing wrong with ...", ""Bottom line: Until Lucid Motors management reveals further details, it’s difficult to say ...", "Robert Reed want people to sell their shares so the price go down ...", "Dont waste readers time by catchy headlines. • the current Hennessy Capital stockholders will own 37,307,189 shares of New Canoo Common Stock (excluding any PIPE Shares), representing approximately 15.3% of the total shares outstanding. Essentially, people will sit facing each other with this flat structure using its proprietary battery and drivetrain technology. Therefore, we can its value using an enterprise-to-sales model and compare this to what the company says its peers and sum-of-the-parts value should be. Hennessy Capital Acquisition Corp IV Ltd. (NASDAQ: HCAC), a wholly owned subsidiary of Hennessy Capital LLC, has filed paperwork with the SEC to enter into a merger with the privately owned electronic vehicle maker Canoo. Stock Picks. Home » Stocks » HCAC Hennessy Capital Acquisition Corp IV (HCAC) Dec 22, 2020 - HCAC merged into GOEV Stock Price: $19.49 USD 0.00 (0.00%) Article printed from InvestorPlace Media, https://investorplace.com/2020/12/hcac-stock-is-worth-60-more-when-it-closes-merger-with-canoo-the-ev-maker/. Canoo says that this business model will be much more profitable than a one-time sale of the vehicle, with higher margins. That may or may not happen. Moreover, subscription “owners” of  Canoo vehicles do not have to pay DMV costs, maintenance costs, or issues with residual value. Moreover, the company itself shows on page 52 of the slide presentation that its sum-of-the-parts valuation should be at least $6.582 billion. Jan. 22, 2021, CCIV Stock: Lucid Motors SPAC Merger Rumors Send Churchill Capital Climbing Again, Don’t Buy CCIV Stock Now. All stock picks. The present value of $2.341 billion today is $1.164 billion. Hennessy Capital Acquisition Corp. IV went public via an Initial Public Offering, (IPO) for $261 million on February 22, 2019, with the intention … Moreover, as the company will receive $607 million in the merger, the pro forma enterprise value (EV) is $4.13 billion. When Its Merger With EV Maker Canoo Closes, HCAC Stock Will Fly, it would have a $25,000 car in three years, on which shareholders will vote on Dec. 21, Louis Navellier and the InvestorPlace Research Staff, A Play on the Biggest Scientific Breakthrough of the Century, What Did the Stock Market Do? HCAC stock has risen more than 30% during AH on Friday and pre-market session on Monday. Explore … HCAC Stock: 12 Things to Know About Hennessy Capital and the Canoo SPAC Merger Hennessy Capital shareholders will vote on the pending Canoo SPAC merger on Dec. 21 This is way too cheap. ... Canoo has previously announced a merger agreement with Hennessy Capital Acquisition Corp. IV ... plans or forecasts of future events and views as of the date of this press release. Recent announcements include electric vehicle company Canoo, which is scheduled to go public later in 2020 in a reverse merger with Hennessy Capital Acquisition Corp IV (NASDAQ: HCAC). For example, at a 15% discount rate over 5 years, the present value is about half of the 2025 revenue (49.7%). Canoo believes this lowers the barriers to entry. HCAC (EV producer, Canoo/CNOO will use this SPAC for reverse-merger) is the latest EV play in the market and with how is everything going on, we could see $20 in a week from now. Subscribe. Additionally, HCAC today announced that it has set a record date of October 27, 2020 (the “Record Date”) and a meeting date of December 21, 2020 for its Special Meeting. As promptly as practicable after the date of the Merger Agreement and HCAC’s receipt of the Company’s audited financial statements (the “PCAOB Audited Financials”) and unaudited financial statements for the six months ended June 30, 2020 and June 30, 2019, in each case, prepared in accordance with GAAP and Regulation S-X, HCAC (with the assistance and cooperation of the … Hylion’s SPAC deal on Sept. 28, triggering a surge in the stock to $53.51 from $44.39 over the two days following the vote. Shortly after that, it will deliver a last-mile delivery vehicle and a sport vehicle. Pro forma equity value of the merger is ... which raised $300 million in its IPO in March 2019 and is listed on the Nasdaq Stock Market (NASDAQ: HCACU). As a result, HCAC stock has a pro forma EV-to-sales multiple of 3.55 times (i.e., $4.13 billion divided by $1.164 billion). Hennessy Capital recommends that you log in at least 15 minutes before the special meeting to ensure you are logged in when the special meeting starts. All rights reserved. Additionally, HCAC today announced that it has set a record date of October 27, 2020 (the “Record Date”) and a meeting date of December 21, 2020 for its Special Meeting. Mark Hake runs the Total Yield Value Guide which you can review here. - Pro forma equity value of the merger is ... on the Nasdaq Stock Market (NASDAQ: HCACU). It only offers a subscription model. Today after closing, SBE filed Form S-4: As many people expected, Dec 15, 2020 is the date. View real-time stock prices and stock quotes for a full financial overview. Aug. 18, 2020, 09:33 AM. Posted by Patrick McLoughlin September 1, 2020 November 24, 2020 Posted in Technology stocks, US stocks Tags: HCAC buy or sell, HCAC IV merger, HCAC merger, HCAC merger date, HCAC merger news, HCAC merger with can, HCAC stock merger Post navigation HCAC Stock saw the intraday high of $12.10 and lowest of $11.17 per share. Copyright © Now $6.592 billion is 60% higher than HCAC SPAC’s enterprise value of $4.13 billion. Hennessy Capital Acquisition (NASDAQ: HCAC) will close its merger deal with Canoo, an electric vehicle maker, on Dec. 21. All rights reserved. HCAC stock is worth 60% more than its Dec. 14 price. It believes that it will make four times the margin of normal one-time sale manufacturers. Simple as that. This is a lease of the EV, but with no definitive lease term and no down payment, both of which are traditionally in car leases. Stuff inside matters. HCAC was founded by Daniel J. Hennessy ... plans or forecasts of future events and views as of the date of this press release. Its enterprise value should at least 5 to 6 times sales to be comparable to other EV makers. If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice or … However, the jury will be out on whether consumers will really like this or not. According to reports in August, Canoo were to go public through a SPAC merger with Hennessy Capital Acquisition Corp IV (NASDAQ: HCAC) … On the date of publication, Mark R. Hake had a long position in Tesla (TSLA). Stock Trading Strategies. 1125 N. Charles St, Baltimore, MD 21201. But Pounce on the Lucid Motors Merger, How the Internet Sent GameStop Stock Up 1,000% — And Where It’s Going Next, While It’s Holding Steady Now, Get Ready to Bail on Palantir Stock, CCIV Stock: Comparing Lucid Motors to Tesla as ‘Merger Monday’ Hopes Soar. 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