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Canoo Inc. (NASDAQ:GOEV) stock gained 11% early Friday after Executive Chairman and CEO, Tony Aquila, bought over 9 million additional shares of the EV maker.
Filings with the SEC showed that on November 9, 2022, Canoo entered into the Subscription Agreement providing for the purchase of an aggregate of 9,009,009 shares of Common Stock at a price of $1.11 per share for an aggregate purchase price of $10.0M.
Mr. Aquila and AFV-10, a special-purpose vehicle managed by entities affiliated with Mr. Aquila, were purchasers of the shares.
Aquilla and related entities now own 62,479,217 shares of Canoo, or 19.2% of the shares outstanding.
