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[TORRANCE] Hennessy Capital Acquisition Corp IV is in advanced talks to merge with Canoo, a company that intends to offer electric vehicles on a subscription basis, according to people with knowledge of the matter. The special purpose acquisition company, or SPAC, is in talks with investors to raise about US$300 million in new equity for the deal, which would take Canoo public and value the combined entity at more than US$2 billion, said the people, who asked not to be identified because the talks are private.A spokesperson for Canoo declined to comment. A representative for Hennessy didn't immediately respond to a request for comment.
In a filing seeking an extension of a September deadline for finding a company to acquire, Hennessy said in July that it had"entered into a letter of intent with a prospective target for an initial business combination in the electric vehicle and advanced mobility sector". The SPAC cautioned that there can be"no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated".
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