Hennessy Capital Acquisition IV completed the merger with Canoo in a $2.4bn deal.

Hennessy Capital Acquisition IV, a special purpose acquisition company backed by Hennessy Capital, completed the merger with Canoo, a company developing breakthrough electric vehicles, in a $2.4bn deal. Upon closing of the transaction, the combined operating company was named Canoo and will continue to be listed on the Nasdaq Stock Market. "Today marks an important milestone of Canoo's effort to reinvent the development, production and go-to-market model of the electric vehicle industry. Our technology allows for rapid and cost-effective vehicle development through the world's flattest skateboard architecture, and we believe our subscription model will transform the consumer ownership experience. We are excited to partner with Hennessy Capital and we are energized to begin our journey through a shared passion to deliver an environmentally friendly and versatile vehicle development platform to the market," Ulrich Kranz, Canoo Co-Founder and CEO.