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. HCAC was founded by ... as of the date of this press release. 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). Editor’s note: This article was updated on Dec. 17, 2020, to update Canoo’s expected ticker. Jan. 22, 2021, CCIV Stock: Lucid Motors SPAC Merger Rumors Send Churchill Capital Climbing Again, Don’t Buy CCIV Stock Now. 1125 N. Charles St, Baltimore, MD 21201. This is why Canoo’s business model is different. 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. Enter your email address to subscribe to Idaho Reporter and receive latest news by email. Now $6.592 billion is 60% higher than HCAC SPAC’s enterprise value of $4.13 billion. 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). Electric-vehicle maker Canoo will merge with 'blank-check' company to raise $600 million in a public offering (HCAC) Matthew Fox. 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). Simple as that. - Pro forma equity value of the merger is ... on the Nasdaq Stock Market (NASDAQ: HCACU). But Canoo plans on being able to deliver its first consumer subscription-based EV model named the canoo by 2022. However, the jury will be out on whether consumers will really like this or not. Moreover, as the company will receive $607 million in the merger, the pro forma enterprise value (EV) is $4.13 billion. 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. According to reports in August, Canoo were to go public through a SPAC merger with Hennessy Capital Acquisition Corp IV (NASDAQ: HCAC) … 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. All rights reserved. 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. Canoo says that this business model will be much more profitable than a one-time sale of the vehicle, with higher margins. ". 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 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 … Hennessy Capital Acquisition (NASDAQ: HCAC) will close its merger deal with Canoo, an electric vehicle maker, on Dec. 21. Copyright © 2021 InvestorPlace Media, LLC. ... 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. All rights reserved. Explore … Moreover, subscription “owners” of  Canoo vehicles do not have to pay DMV costs, maintenance costs, or issues with residual value. 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. 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. Stuff inside matters. Canoo expects to build 10,000 canoo vehicles in 2022, rising to 60,000 in 2024, and 95,000 in 2025. Stock Trading Strategies. Copyright © 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. This could clearly transform the way people think about electric vehicles. This is based on comparisons with Tesla and Netflix (NASDAQ:NFLX), a subscription-based business model company. HCAC stock is worth 60% more than its Dec. 14 price. Today after closing, SBE filed Form S-4: As many people expected, Dec 15, 2020 is the date. Therefore, at nearly $20 for HCAC stock, the pro forma market capitalization of the combined company is $4.74 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? You will need the 12-digit meeting control number that is printed on your proxy card to enter the special meeting. 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/. This is way too cheap. 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. For example, at a 15% discount rate over 5 years, the present value is about half of the 2025 revenue (49.7%). Tesla (NASDAQ:TSLA) said in its Battery Day event in late Sept. that it would have a $25,000 car in three years. 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 Canoo says these EVs will be highly efficient to produce and can allow them to modularly design new EVs for different end-users. The company projects 2024 revenue of $1.43 billion, 2025 revenue of $2.341 billion, and its first profit at $188 million. That may or may not happen. 102 votes, 80 comments. HCAC | Complete Hennessy Capital Acquisition Corp. IV Cl A stock news by MarketWatch. The bottom is that the company says: “One monthly payment, no commitment.”. quotes delayed at least 15 minutes, all others at least 20 minutes. Shortly after that, it will deliver a last-mile delivery vehicle and a sport vehicle. Hennessy Capital Acquisition Corp. IV stock is now 16.34% up from its year-to-date (YTD) trading value. He is simply suggesting the possibility. 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. Nothing new happened, no new SEC filing, no announcements, no nothing. Essentially, people will sit facing each other with this flat structure using its proprietary battery and drivetrain technology. Nasdaq NEW YORK, Oct. 23, 2020 /PRNewswire/ -- . But even more interesting, Canoo will not sell its vehicles. This is on page 52 of the slide presentation. 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%) 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. All stock picks. On the date of publication, Mark R. Hake had a long position in Tesla (TSLA). 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 … 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. 1125 N. Charles St, Baltimore, MD 21201. Aug. 18, 2020, 09:33 AM. Mark on your calendar! The deal recently announced on Aug. 18, envisions a reverse merger with Canoo. HCAC Stock saw the intraday high of $12.10 and lowest of $11.17 per share. The special meeting will be completely virtual. 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). HCAC stock has risen more than 30% during AH on Friday and pre-market session on Monday. It only offers a subscription model. Canoo. Canoo, the electric-vehicle producer, plans to go public via a reverse merger at a $10 share price and $2.4 billion valuation. 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. When the deal closes its will trade under the symbol GOEV, instead of HCAC. 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. 2021 InvestorPlace Media, LLC. Shares are now at $20.18, less than half their value at … The closer the merger date, the higher the price will go. 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 … The merger will see HCAC and Canoo Holdings Ltd. joined together with Canoo surviving the merger. Stock Picks. Mark Hake runs the Total Yield Value Guide which you can review here. Canoo’s 2025 revenue is forecast to be $2.341 billion, but we need to discount the revenue to the present. 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. • 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. 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. Canoo believes this lowers the barriers to entry. 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. HCAC was founded by Daniel J. Hennessy ... plans or forecasts of future events and views as of the date of this press release. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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). 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. View real-time stock prices and stock quotes for a full financial overview. HCAC stock has risen more than 30% during AH on Friday and pre-market session on Monday. The valuation forecast is based on my analysis of the company and its own valuation from the company’s slide presentation. 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. It believes that it will make four times the margin of normal one-time sale manufacturers. Subscribe. Its enterprise value should at least 5 to 6 times sales to be comparable to other EV makers. Therefore, HCAC stock (CNOO stock) is worth at least 60% more than today. View detailed financial information, real-time news, videos, quotes and analysis on Hennessy Capital Acquisition Corp. IV Class A (NASDAQ:HCAC). 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