Electric vehicle startup Canoo has revealed it is being investigated by the U.S. Securities and Exchange Commission (SEC).
Canoo went public earlier this year through a merger with special purpose acquisition company Hennessy Capital Acquisition Corp and during its quarterly earnings report posted on Monday, it said the SEC investigation covers Hennessy’s IPO and merger with Canoo, as well as the company’s operations, business model, revenues, revenue strategy, customer agreements, earnings, and other related topics.
“The SEC has also informed the Company that the investigation does not mean that it has concluded that anyone has violated the law, and does not mean that it has a negative opinion of any person, entity or security. We intend to provide the requested information and cooperate fully with the SEC investigation,” Canoo said in the regulatory filing,