0001104659-23-079116.txt : 20230707 0001104659-23-079116.hdr.sgml : 20230707 20230707160659 ACCESSION NUMBER: 0001104659-23-079116 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20230707 DATE AS OF CHANGE: 20230707 GROUP MEMBERS: AFV MANAGEMENT ADVISORS LLC GROUP MEMBERS: AFV PARTNERS SPV-10 LLC GROUP MEMBERS: AFV PARTNERS SPV-10/A LLC GROUP MEMBERS: AFV PARTNERS SPV-10/B LLC GROUP MEMBERS: AFV PARTNERS SPV-4 LLC GROUP MEMBERS: AFV PARTNERS SPV-7 LLC GROUP MEMBERS: AFV PARTNERS SPV-7/A LLC GROUP MEMBERS: I-40 OKC PARTNERS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Canoo Inc. CENTRAL INDEX KEY: 0001750153 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 831476189 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90950 FILM NUMBER: 231076849 BUSINESS ADDRESS: STREET 1: 19951 MARINER AVENUE CITY: TORRANCE STATE: CA ZIP: 90503 BUSINESS PHONE: (424) 271-2144 MAIL ADDRESS: STREET 1: 19951 MARINER AVENUE CITY: TORRANCE STATE: CA ZIP: 90503 FORMER COMPANY: FORMER CONFORMED NAME: Hennessy Capital Acquisition Corp IV DATE OF NAME CHANGE: 20180814 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Aquila Tony CENTRAL INDEX KEY: 0001399053 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 2126 HAMILTON ROAD, SUITE 260 CITY: ARGYLE STATE: TX ZIP: 76226 SC 13D/A 1 tm2320324d1_sc13da.htm SC 13D/A

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

 

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934
(Amendment No. 8)*

 

 

 

Canoo Inc.
(Name of Issuer)

 

Common Stock
(Title of Class of Securities)

 

13803R 102
(CUSIP Number)

 

AFV PARTNERS SPV-4 LLC
2126 HAMILTON ROAD, SUITE 260
ARGYLE, TX 76226
TELEPHONE: (940) 226-4511
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

June 29, 2023
(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Names of Reporting Persons
AFV Partners SPV-4 LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6 Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by Each
Reporting
Person With
7. Sole Voting Power
0
8. Shared Voting Power
12,509,387 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
12,509,387 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
12,509,387 shares of Common Stock (2) 
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
¨
13 Percent of Class Represented by Amount in Row 11
2.5% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by AFV Partners SPV-4 LLC (“AFV-4”), AFV Partners SPV-7 LLC (“AFV-7”), AFV Partners SPV-7/A LLC (“AFV-7/A”), AFV Partners SPV-10 LLC (“AFV-10”), AFV Partners SPV-10/A LLC (“AFV 10/A”), AFV Partners SPV-10/B LLC (“AFV 10/B”), I-40 OKC Partners LLC (“OKC”), AFV Management Advisors LLC (“AFV”) and Tony Aquila (“Mr. Aquila”) (AFV-4, AFV-7, AFV-7/A, AFV-10, AFV 10/A, AFV 10/B, OKC, AFV and Mr. Aquila are herein collectively referred to as the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by AFV-4. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by AFV-4. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-4.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

2 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
AFV Partners SPV-7 LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
35,273,268 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
35,273,268 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
35,273,268 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨
13. Percent of Class Represented by Amount in Row 11
7.0% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by AFV-7. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by AFV-7. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-7.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

3 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
AFV Partners SPV-7/A LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
3,450,000 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
3,450,000 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
3,450,000 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨
13. Percent of Class Represented by Amount in Row 11
0.7% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by AFV-7/A. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by AFV-7/A. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-7/A.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

4 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
AFV Partners SPV-10 LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨ 
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
4,504,505 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
4,504,505 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
4,504,505 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨ 
13. Percent of Class Represented by Amount in Row 11
0.9% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by AFV-10. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by AFV-10. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-10.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

5 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
AFV Partners SPV-10/A LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨ 
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
9,331,840 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
9,331,840 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
9,331,840 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨ 
13. Percent of Class Represented by Amount in Row 11
1.9% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by AFV-10/A. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by AFV-10/A. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-10/A.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

6 

 

 

CUSIP No. 13803R 102 13D/A  

  

1. Name of Reporting Persons
AFV Partners SPV-10/B LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
6,998,880 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
6,998,880 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
6,998,880 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨
13. Percent of Class Represented by Amount in Row 11
1.4% (3)
14. Type of Reporting Person (see instructions)
OO
(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by AFV-10/B. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by AFV-10/B. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-10/B.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

7 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
I-40 OKC Partners LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
2,319,552 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
2,319,552 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,319,552 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨ 
13. Percent of Class Represented by Amount in Row 11
0.5% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The shares are owned by OKC. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by OKC. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by OKC.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

8 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
AFV Management Advisors LLC
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6. Citizenship or Place of Organization
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
0
8. Shared Voting Power
74,387,432 shares of Common Stock (2)
9. Sole Dispositive Power
0
10. Shared Dispositive Power
74,387,432 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
74,387,432 shares of Common Stock (2)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨
13. Percent of Class Represented by Amount in Row 11
14.8% (3)
14. Type of Reporting Person (see instructions)
OO

(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The securities are owned as follows: (i) 12,509,387 shares of the Issuer’s Common Stock by AFV-4, (ii) 35,273,268 shares of the Issuer’s Common Stock by AFV-7, (iii) 3,450,000 shares of the Issuer’s Common Stock by AFV-7/A, (iv) 4,504,505 shares of the Issuer’s Common Stock by AFV-10, (v) 9,331,840 shares of Issuer’s Common Stock by AFV-10/A, (vi) 6,998,880 shares of Issuer’s Common Stock by AFV-10/B and (vii) 2,319,552 shares of Issuer Common Stock owned by OKC. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by (i) AFV-4, (ii) AFV-7, (iii) AFV-7/A, (iv) AFV-10, (v) AFV-10/A, (vi) AFV-10/B and (vii) OKC. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by (i) AFV-4, (ii) AFV-7, (iii) AFV-7/A, (iv) AFV-10, (v) AFV-10/A, (vi) AFV-10/B and (vii) OKC.
(3) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

9 

 

 

CUSIP No. 13803R 102 13D/A  

 

1. Name of Reporting Persons
Tony Aquila
2. Check the Appropriate Box if a Member of a Group (see instructions)
(a) ¨ (b) x (1)
3. SEC USE ONLY
4. Source of Funds (see instructions)
OO
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
¨
6. Citizenship or Place of Organization
United States of America

Number of
Shares
Beneficially
Owned by
Each Reporting
Person
With
7. Sole Voting Power
6,892,057
8. Shared Voting Power
74,387,432 shares of Common Stock (2)
9. Sole Dispositive Power
6,892,057
10. Shared Dispositive Power
74,387,432 shares of Common Stock (2)

11. Aggregate Amount Beneficially Owned by Each Reporting Person
81,279,489 shares of Common Stock (3)
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see instructions)
¨
13. Percent of Class Represented by Amount in Row 11
16.1% (4)
14. Type of Reporting Person (see instructions)
IN
(1) This Amendment No. 8 to Schedule 13D/A is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.
(2) The securities are owned as follows: (i) 12,509,387 shares of the Issuer’s Common Stock by AFV-4, (ii) 35,273,268 shares of the Issuer’s Common Stock by AFV-7, (iii) 3,450,000 shares of the Issuer’s Common Stock by AFV-7/A, (iv) 4,504,505 shares of the Issuer’s Common Stock by AFV-10, (v) 9,331,840 shares of Issuer’s Common Stock by AFV-10/A, (vi) 6,998,880 shares of Issuer’s Common Stock by AFV-10/B and (vii) 2,319,552 shares of Issuer Common Stock owned by OKC. Mr. Aquila is the managing member of AFV which exercises ultimate voting and investment power with respect to the shares held by (i) AFV-4, (ii) AFV-7, (iii) AFV-7/A, (iv) AFV-10, (v) AFV-10/A, (vi) AFV-10/B and (vii) OKC. Mr. Aquila may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by (i) AFV-4, (ii) AFV-7, (iii) AFV-7/A, (iv) AFV-10, (v) AFV-10/A, (vi) AFV-10/B and (vii) OKC.
(3) In addition to the Issuer’s Common Stock held by AFV-4, AFV-7, AFV-7/A, AFV-10, AFV-10/A, AFV-10/B and OKC, includes 6,892,057 shares of Issuer Common Stock held directly by Mr. Aquila.
(4) The percentage set forth above is calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

10 

 

 

The Statement on Schedule 13D originally filed with the Securities and Exchange Commission (the “Commission”) on December 31, 2020, as amended and supplemented by Amendment No. 1 filed with the Commission on May 21, 2021, (ii) Amendment No. 2 filed on September 23, 2021, (iii) Amendment No. 3 filed on October 6, 2021, (iv) Amendment No. 4 filed on November 22, 2021, (v) Amendment No. 5 filed on November 23, 2022, (vi) Amendment No. 6 filed on January 6, 2023 and (vii) Amendment No. 7 filed on June 28, 2023 (the “Statement”), is hereby further amended and supplemented by This Amendment No. 8 to Schedule 13D (the “Amendment”). Capitalized terms used herein and not otherwise defined have the meanings assigned to such terms in the Statement. Except as otherwise provided herein, each Item of the Statement remains unchanged.

  

Information with respect to each Reporting Person is given solely by such Reporting Person and no Reporting Person assumes responsibility for the accuracy or completeness of the information furnished by another Reporting Person.

 

Item 2. Identity and Background

 

Items 2(a)-(c) and (f) of the Statement are hereby amended and supplemented by:

 

Adding:

 

·AFV Partners SPV-10/A LLC, a Delaware LLC, as a Reporting Person. AFV-10/A is a special purpose investment vehicle that manages and facilitate investments on behalf of AFV Partners LLC, a long-term permanent capital vehicle that invests in mission critical technology, software and data businesses. The address of the principal business and office of AFV-10/A is 2126 Hamilton Road, Suite 260, Argyle, TX 76226.

 

·AFV Partners SPV-10/B LLC, a Delaware LLC, as a Reporting Person. AFV-10/B is a special purpose investment vehicle that manages and facilitate investments on behalf of AFV Partners LLC, a long-term permanent capital vehicle that invests in mission critical technology, software and data businesses. The address of the principal business and office of AFV-10/B is 2126 Hamilton Road, Suite 260, Argyle, TX 76226.

 

From the date of this Amendment, all references to “Reporting Persons” in the Statement shall include AFV-10/A, and AFV 10/B. The agreement among the Reporting Persons relating to the joint filing of the Statement and this Amendment is attached as Exhibit A hereto.

 

In accordance with the provisions of General Instruction C to Schedule 13D, certain information with respect to AFV-10/A and AFV-10/B as required by Item 2 of Schedule 13D is listed on Schedule 1 hereto and is incorporated by reference herein.

 

Item 3. Source and Amount of Funds or Other Consideration

 

AFV-10/A and AFV-10/B acquired 9,331,840 and 6,998,880 shares, respectively, of the Issuer’s Common Stock in a private transaction pursuant to the Purchase Agreement by and among the Issuer, AFV-10/A and AFV-10/B. Pursuant to the Purchase Agreement, AFV-10/A and AFV-10/B purchased the Purchased Shares, together with Warrants to purchase Warrant Shares, in the case of each of AFV-10/A and AFV-10/B, in an amount equal to the Purchased Shares acquired by such entity, at a combined purchase price of $0.5358 per share and accompanying Warrant. Each of AFV-10/A and AFV-10/B funded the acquisition of the Purchased Shares and Warrants with cash funds held for making investments.

 

Item 4. Purpose of Transaction

 

Item 4 of the Statement is hereby amended and supplemented by adding the following:

 

The information furnished in Item 6 of this Amendment is incorporated into this Item 4 by reference. Each of AFV-10/A and AFV-10/B acquired the shares of the Issuer’s Common Stock pursuant to the transaction described under Item 6 of this Amendment for investment purposes.

 

11 

 

 

Item 5. Interest in Securities of the Issuer

 

Items 5(a), (b) and (c) of the Statement are amended and restated in their entirety as follows:

 

(a), (b) The following information with respect to the ownership of the Common Stock of the Issuer by the Reporting Persons is provided as of the date of this filing:

 

Reporting Person 

Shares

Held

Directly(1)

  

Sole

Voting

Power

  

Shared

Voting

Power

  

Sole

Dispositive

Power

  

Shared

Dispositive

Power

  

Beneficial

Ownership

  

Percentage

of Class(5)

 
AFV-4   12,509,387    0    12,509,387    0    12,509,387    12,509,387    2.5%
AFV-7   35,273,268    0    35,273,268    0    35,273,268    35,273,268    7.0%
AFV-7/A   3,450,000    0    3,450,000    0    3,450,000    3,450,000    0.7%
AFV-10   4,504,505    0    4,504,505    0    4,504,505    4,504,505    0.9%
AFV-10/A   9,331,840    0    9,331,840    0    9,331,840    9,331,840    1.9%
AFV-10/B   6,998,880    0    6,998,880    0    6,998,880    6,998,880    1.4%
OKC   2,319,552    0    2,319,552    0    2,319,552    2,319,552    0.5%
AFV(2)   0    0    74,387,432    0    74,387,432    74,387,432    14.8%
Mr. Aquila(3)   6,892,057    6,892,057    74,387,432    6,892,057    74,387,432    81,279,489(4)   16.1%

 

(1) Represents the number of shares of Common Stock currently owned or underlying all securities convertible, exchangeable or exercisable for shares of Common Stock within 60 days of the date of this Amendment held by the Reporting Persons.
(2) AFV exercises ultimate voting and investment power with respect to the shares held by AFV-4, AFV-7, AFV-7/A, AFV-10, AFV-10/A, AFV-10/B and OKC.
(3) Mr. Aquila is the managing member of AFV and as such may be deemed to hold voting and dispositive power with respect to the shares held indirectly by AFV, and held of record by AFV-4, AFV-7, AFV-7/A, AFV-10, AFV-10/A, AFV-10/B and OKC.
(4) Includes 6,892,057 shares of Issuer Common Stock held directly by Mr. Aquila.
(5) The percentages set forth above are calculated based on 503,661,544 shares of the Issuer’s Common Stock outstanding as of May 8, 2023, as reported on the Issuer’s Form 10-Q filed on May 15, 2023.

 

(c) The Reporting Persons have not engaged in any transactions in the Issuer’s Common Stock in the past sixty days, except as described in this Amendment and the Statement.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

Item 6 of the Statement is hereby amended and supplemented by adding the following:

 

On June 29, 2023, AFV-10/A and AFV-10/B acquired the Purchased Shares and the Warrants pursuant to the Purchase Agreement, following the satisfaction of customary closing conditions under the Purchase Agreement.

 

On June 30, 2023, the Issuer entered into a securities purchase agreement (the “Securities Purchase Agreement”) with YA II PN, Ltd. (“Yorkville”), in connection with the issuance and sale by the Issuer of certain convertible debentures and warrants to Yorkville. Under the Securities Purchase Agreement, the Issuer agreed to hold an annual or special meeting of its stockholders on or before the 60th day following June 30, 2023 (the “Proposed Stockholder Meeting”) for the purpose of, among other things, obtaining stockholder approval for the issuance of all shares of Common Stock issuable upon conversion or exercise of the debentures and warrants issued pursuant to the Securities Purchase Agreement (the “Shareholder Approval”). In connection with the Securities Purchase Agreement, on June 30, 2023, the Issuer entered into voting agreements (the “Yorkville Voting Agreements”) with each of AFV-4, AFV-7, AFV-7/A, AFV-10, AFV-10/A, AFV-10/B, OKC and Mr. Aquila. Pursuant to the Yorkville Voting Agreements, each applicable Reporting Person agreed to vote their shares of the Issuer’s Common Stock in favor of the Shareholder Approval at any stockholder meeting of the Company while such Voting Agreements remain in effect.

 

Each Yorkville Voting Agreement will terminate upon the earliest to occur of: (a) the date on which the Securities Purchase Agreement is terminated in accordance with its terms; (b) the termination of the Yorkville Voting Agreements by mutual written consent of the parties thereto; and (c) the date on which the Yorkville Shareholder Approval is obtained.

 

The foregoing description of the Yorkville Voting Agreements is a summary and is qualified in its entirety by reference to the form of Yorkville Voting Agreement, which is attached hereto as an exhibit and is incorporated herein by reference.

 

Item 7. Material to be Filed as Exhibits

 

Item 7 of the Statement is hereby amended and supplemented to add the following exhibits:

 

A. Agreement regarding filing of joint Schedule 13D.

B. Power of Attorney (AFV-10/A).

C. Power of Attorney (AFV-10/B).

D. Form of Yorkville Voting Agreement.

 

12 

 

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: July 7, 2023

 

  AFV Partners SPV-4 LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-7 LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-7/A LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact     
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-10 LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact     
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-10/A LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-10/B LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  I-40 OKC Partners LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Management Advisors LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact     
  Name: Tony Aquila
  Title: Managing Member
     
  /s/ Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact

 

 

 

 

SCHEDULE I

 

AFV Management Advisors LLC (“AFV”) is the sole manager of AFV Partners SPV-10/A LLC (“AFV-10/A”). Tony Aquila is the managing member of AFV. The officers of AFV-10/A are as follows:

 

Name

  Position   Citizenship
Tony Aquila   President and Chief Executive Officer   United States of America
Jana Bell   Vice President   United States of America
Lori McCutcheon   Vice President   United States of America
Peter Anderson   Vice President   United States of America

 

AFV Management Advisors LLC (“AFV”) is the sole manager of AFV Partners SPV-10/B LLC (“AFV-10/B”). Tony Aquila is the managing member of AFV. The officers of AFV-10/B are as follows:

 

Name

  Position   Citizenship
Tony Aquila   President and Chief Executive Officer   United States of America
Jana Bell   Vice President   United States of America
Lori McCutcheon   Vice President   United States of America
Peter Anderson   Vice President   United States of America

 

Each of Jana Bell’s, Lori McCutcheon’s and Peter Anderson’s principal employment is with AFV Partners LLC.

 

 

 

EX-99.A 2 tm2320324d1_ex99-a.htm EXHIBIT 99.A

Exhibit A

 

JOINT FILING STATEMENT

 

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to herein) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $0.0001 per share, of Canoo Inc., a Delaware corporation, and that this Agreement may be included as an exhibit to such joint filing. This Joint Filing Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

 

I, the undersigned, hereby express my agreement that the attached Schedule 13D (and any amendments thereto) relating to the Common Stock of Canoo Inc. is filed on behalf of each of the undersigned.

 

Date: July 7, 2023

 

  AFV Partners SPV-4 LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-7 LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-7/A LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact     
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-10 LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact     
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-10/A LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Partners SPV-10/B LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  I-40 OKC Partners LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact
  Name: Tony Aquila
  Title: President and Chief Executive Officer
     
  AFV Management Advisors LLC
     
  By: Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact     
  Name: Tony Aquila
  Title: Managing Member
     
  /s/ Tony Aquila, by /s/ Hector Ruiz, Attorney-in-Fact

 

EX-99.B 3 tm2320324d1_ex99-b.htm EXHIBIT 99.B

 

Exhibit B

 

POWER OF ATTORNEY

 

Date: July 7, 2023

 

Know all by these presents, that the undersigned hereby constitutes and appoints Hector Ruiz, with full power of substitution, the undersigned’s true and lawful attorney-in-fact to:

 

1. execute for and on behalf of the undersigned with respect to Canoo Inc. (the “Company”), Schedules 13D and 13G and Forms 3, 4, and 5 in accordance with Sections 13 and 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;

 

2. do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Schedules 13D or 13G or Form 3, 4, or 5, complete and execute any amendment or amendments thereto, and timely file such form with the U.S. Securities and Exchange Commission (the “SEC”) and any stock exchange or similar authority; and

 

3. take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

 

The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming any of the undersigned’s responsibilities to comply with Sections 13 and 16 of the Securities Exchange Act of 1934.

 

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.

 

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of the date first written above.

 

AFV Partners SPV-10/A LLC  
   
/s/ Tony Aquila  

President and Chief Executive Officer

 

 

 

EX-99.C 4 tm2320324d1_ex99-c.htm EXHIBIT 99.C

 

Exhibit C

 

POWER OF ATTORNEY

 

Date: July 7, 2023

 

Know all by these presents, that the undersigned hereby constitutes and appoints Hector Ruiz with full power of substitution, the undersigned’s true and lawful attorney-in-fact to:

 

1. execute for and on behalf of the undersigned with respect to Canoo Inc. (the “Company”), Schedules 13D and 13G and Forms 3, 4, and 5 in accordance with Sections 13 and 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;

 

2. do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Schedules 13D or 13G or Form 3, 4, or 5, complete and execute any amendment or amendments thereto, and timely file such form with the U.S. Securities and Exchange Commission (the “SEC”) and any stock exchange or similar authority; and

 

3. take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

 

The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming any of the undersigned’s responsibilities to comply with Sections 13 and 16 of the Securities Exchange Act of 1934.

 

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.

 

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of the date first written above.

 

AFV Partners SPV-10/B LLC  
   
/s/ Tony Aquila  

President and Chief Executive Officer

 

 

 

EX-99.D 5 tm2320324d1_ex99-d.htm EXHIBIT 99.D

 

Exhibit D

 

VOTING AGREEMENT

 

This VOTING AGREEMENT (this “Agreement”), dated as of June 30, 2023, is entered into by and between the undersigned stockholder (the “Stockholder”) of Canoo Inc., a Delaware corporation (the “Company”), and the Company. The Company and the Stockholder are each sometimes referred to herein individually as a “Party” and collectively as the “Parties.”

 

RECITALS

 

A.            Prior to or concurrently with the execution of this Agreement, the Company has entered into a securities purchase agreement (the “Purchase Agreement”) with YA II PN, Ltd. (“Buyer”), in connection with the issuance and sale by the Company of convertible debentures in an initial aggregate principal amount of $26,595,745, as well as, among other things, the Option Debenture, the Initial Warrant and the Option Warrant.

 

B.            In order to induce Buyer to enter into the Purchase Agreement and for good and valuable consideration, the sufficiency of which is hereby acknowledged, the Stockholder hereby makes certain representations, warranties, covenants, and agreements as set forth in this Agreement with respect to the shares of Common Stock Beneficially Owned by the Stockholder and set forth below the Stockholder’s signature on the signature page hereto (the “Original Shares” and, together with any additional shares of Common Stock pursuant to Section 6 hereof, the “Shares”).

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.             Definitions. For purposes of this Agreement, capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Purchase Agreement. When used in this Agreement, the following terms in all of their tenses, cases, and correlative forms shall have the meanings assigned to them in this Section 1.

 

(a)            “Beneficially Own” or “Beneficial Ownership” has the meaning assigned to such term in Rule 13d-3 under the 1934 Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such rule (in each case, irrespective of whether or not such rule is actually applicable in such circumstance). For the avoidance of doubt, “Beneficially Own” and “Beneficial Ownership” shall also include record ownership of securities.

 

(b)            “Beneficial Owner” shall mean the Person who Beneficially Owns the referenced securities.

 

2.             Representations of Stockholder. The Stockholder represents and warrants to the Company that:

 

(a)            Ownership of Shares. The Stockholder: (i) is the Beneficial Owner of all of the Original Shares set forth below the Stockholder’s signature on the signature pages hereto free and clear of any proxy, voting restriction, adverse claim, or other Liens, other than those created by this Agreement or under applicable federal or state securities laws; and (ii) has the ultimate voting power over all such Original Shares or (iii) has the power and authority to enter into, execute, and deliver this Agreement and to perform fully the Stockholder’s obligations hereunder. Except pursuant to this Agreement, there are no options, warrants, or other rights, agreements, arrangements, or commitments of any character to which the Stockholder is a party relating to the pledge, disposition, or voting of any such Original Shares and there are no voting trusts or voting agreements with respect to such Original Shares.

 

 

 

(b)            Disclosure of All Shares Owned. The Stockholder does not Beneficially Own any shares of Common Stock other than: (i) the Original Shares set forth below the Stockholder’s signature on the signature pages hereto; and (ii) except as previously publicly disclosed, any options, warrants, or other rights to acquire any additional shares of Company Common Stock or any security exercisable for or convertible into shares of Common Stock, set forth below the Stockholder’s signature on the signature pages hereto (collectively, “Options”).

 

(c)            Power and Authority; Binding Agreement. If the Stockholder is an individual, the Stockholder has full power and authority and legal capacity to enter into, execute, and deliver this Agreement and to perform fully the Stockholder’s obligations hereunder (including the proxy described in Section 3(b) below). If the Stockholder is not an individual, the Stockholder has requisite organizational power and authority to enter into, execute, and deliver this Agreement and to perform fully the Stockholder’s obligations hereunder (including the proxy described in Section 3(b) below). This Agreement has been duly and validly executed and delivered by the Stockholder and constitutes the legal, valid, and binding obligation of the Stockholder, enforceable against the Stockholder in accordance with its terms.

 

(d)            No Conflict. The execution and delivery of this Agreement by the Stockholder does not, and the consummation of the transactions contemplated hereby and the compliance with the provisions hereof will not, conflict with or violate any law applicable to the Stockholder or result in any breach of or violation of, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration, or cancellation of, or result in the creation of any Lien on any of the Shares attributable to the Stockholder pursuant to, any agreement or other instrument or obligation binding upon the Stockholder or any of the Shares attributable to the Stockholder.

 

(e)            No Consents. No consent, approval, order, or authorization of, or registration, declaration, or filing with, any Governmental Entity or any other Person on the part of the Stockholder is required in connection with the valid execution and delivery of this Agreement. If the Stockholder is an individual, no consent of the Stockholder’s spouse is necessary under any “community property” or other laws in order for the Stockholder to enter into and perform its obligations under this Agreement.

 

(f)            No Litigation. There is no action, suit, investigation, or proceeding (whether judicial, arbitral, administrative, or other) pending against, or, to the knowledge of the Stockholder, threatened against or affecting, the Stockholder that could reasonably be expected to materially impair or materially adversely affect the ability of the Stockholder to perform the Stockholder’s obligations hereunder or to consummate the transactions contemplated by this Agreement on a timely basis.

 

3.             Agreement to Vote Shares; Irrevocable Proxy.

 

(a)            Agreement to Vote and Approve. The Stockholder irrevocably and unconditionally agrees during the term of this Agreement, at any annual or special meeting of the Company and at every adjournment or postponement thereof, and on every action or approval by written consent or consents of the Company stockholders, to vote or cause the holder of record to vote the Shares in favor of providing the Shareholder Approval (as defined in the Purchase Agreement) to the extent not previously obtained.

 

(b)            Irrevocable Proxy. The Stockholder hereby appoints the Company and any designee of the Company, and each of them individually, until the Expiration Time (as defined below) (at which time this proxy shall automatically be revoked), its proxies and attorneys-in-fact, with full power of substitution and resubstitution, to vote or act by written consent during the term of this Agreement with respect to the Shares in accordance with Section 3(a). This proxy and power of attorney is given to secure the performance of the duties of the Stockholder under this Agreement. The Stockholder shall take such further action or execute such other instruments as may be necessary to effectuate the intent of this proxy. This proxy and power of attorney granted by the Stockholder shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support an irrevocable proxy, and shall revoke any and all prior proxies granted by the Stockholder with respect to the Shares. The power of attorney granted by the Stockholder herein is a durable power of attorney and shall survive the bankruptcy, death, or incapacity of the Stockholder. The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement.

 

 

 

4.             No Voting Trusts or Other Arrangement. The Stockholder agrees that during the term of this Agreement the Stockholder will not, and will not permit any entity under the Stockholder’s control to, deposit any of the Shares in a voting trust, grant any proxies with respect to the Shares, or subject any of the Shares to any arrangement with respect to the voting of the Shares other than agreements entered into with the Company.

 

5.             Transfer and Encumbrance. The Stockholder agrees that during the term of this Agreement, the Stockholder will not, directly or indirectly, transfer, sell, offer, exchange, assign, pledge, convey any legal or Beneficial Ownership interest in or otherwise dispose of (by merger (including by conversion into securities or other consideration), by tendering into any tender or exchange offer, by testamentary disposition, by operation of law, or otherwise), or encumber (“Transfer”) any of the Shares or enter into any contract, option, or other agreement with respect to, or consent to, a Transfer of, any of the Shares or the Stockholder’s voting or economic interest therein. Any attempted Transfer of Shares or any interest therein in violation of this Section 5 shall be null and void. This Section 5 shall not prohibit a Transfer of the Shares by the Stockholder to any member of the Stockholder’s immediate family, to a trust for the benefit of the Stockholder or any member of the Stockholder’s immediate family, upon the death of the Stockholder or to an “affiliate” (as defined in Rule 144) of the Stockholder; provided, that a Transfer referred to in this sentence shall be permitted only if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to the Company and the Buyers, to be bound by all of the terms of this Agreement.

 

6.             Additional Shares. The Stockholder agrees that all shares of Common Stock that the Stockholder purchases, acquires the right to vote, or otherwise acquires Beneficial Ownership of, after the execution of this Agreement and prior to the Expiration Time shall be subject to the terms and conditions of this Agreement and shall constitute Shares for all purposes of this Agreement. In the event of any stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares, or the like of the capital stock of the Company affecting the Shares, the terms of this Agreement shall apply to the resulting securities and such resulting securities shall be deemed to be “Shares” for all purposes of this Agreement.

 

7.             Termination. This Agreement shall terminate upon the earliest to occur of (the “Expiration Time”): (a) the date on which the Purchase Agreement is terminated in accordance with its terms; (b) the termination of this Agreement by mutual written consent of the Parties; and (c) the date on which the Shareholder Approval is obtained. Nothing in this Section 7 shall relieve or otherwise limit the liability of any Party for any intentional breach of this Agreement prior to such termination.

 

8.             No Agreement as Director or Officer. The Stockholder makes no agreement or understanding in this Agreement in its capacity as a director or officer of the Company or any of its subsidiaries (if the Stockholder holds such office), and nothing in this Agreement: (a) will limit or affect any actions or omissions taken by the Stockholder in its capacity as such a director or officer, and no such actions or omissions shall be deemed a breach of this Agreement; or (b) will be construed to prohibit, limit, or restrict the Stockholder from exercising its fiduciary duties as an officer or director to the Company or its stockholders.

 

 

 

9.             Further Assurances. The Stockholder agrees, from time to time, and without additional consideration, to execute and deliver such additional proxies, documents, and other instruments and to take all such further action as the Company may reasonably request to consummate and make effective the transactions contemplated by this Agreement.

 

10.            Stop Transfer Instructions. At all times commencing with the execution and delivery of this Agreement and continuing until the Expiration Time, in furtherance of this Agreement, the Stockholder hereby authorizes the Company or its counsel to notify the Company’s transfer agent that there is a stop transfer order with respect to all of the Shares (and that this Agreement places limits on the voting and transfer of the Shares), subject to the provisions hereof and provided that any such stop transfer order and notice will immediately be withdrawn and terminated by the Company following the Expiration Time.

 

11.            Specific Performance. Each Party hereto acknowledges that it will be impossible to measure in money the damage to the other Party if a Party hereto fails to comply with any of the obligations imposed by this Agreement, that every such obligation is material and that, in the event of any such failure, the other Party will not have an adequate remedy at law or damages. Accordingly, each Party hereto agrees that injunctive relief or other equitable remedy, in addition to remedies at law or damages, is the appropriate remedy for any such failure and will not oppose the seeking of such relief on the basis that the other Party has an adequate remedy at law. Each Party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond in connection with the other Party’s seeking or obtaining such equitable relief.

 

12.            Amendment; Assignment. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the Stockholder. No Party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other Party hereto, except that the Company may assign, in its sole discretion, all or any of its rights, interests and obligations hereunder to any of its “affiliates” (as defined in Rule 144) or to any party that acquires all of substantially all of the assets of the Company (whether by merger, sale of stock, sale of assets or otherwise). Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the Parties and their respective permitted successors and assigns. Any assignment contrary to the provisions of this Section 12 shall be null and void.

 

13.            Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered:  (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by electronic mail (provided that such sent email is kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically generated message from the recipient’s email server that such e-mail could not be delivered to such recipient); or (iii) one (1) Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed to the party to receive the same.  The addresses and e-mail addresses for such communications shall be:

 

If to the Company:

 

Canoo Inc.

15520 Highway 114

Justin, TX 76247

Attention: Hector Ruiz
E-mail:
[***]

 

If to the Stockholder, to the address, email address, or facsimile number set forth for the Stockholder on the signature pages hereof.

 

 

 

14.            Miscellaneous.

 

(a)            Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule that would cause the application of laws of any jurisdiction other than those of the State of Delaware.

 

(b)            Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal, or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

 

(c)            Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

 

[Remainder of Page Intentionally Left Blank]

 

 

 

IN WITNESS WHEREOF, the Parties hereto have executed and delivered this Agreement as of the date first written above.

   
  CANOO INC.
   
  By:  
  Name:  
  Title:  
   
  [STOCKHOLDER]
   
  By:  
  Number of Shares of Common Stock Beneficially Owned
  as of the date of this Agreement:
  Number of Options Beneficially Owned as of the date of
  this Agreement:
  Street Address:

 

[Signature Page to Voting Agreement]