https://wccftech.com/canoo-becomes-the-latest-american-ev-manufacturer-to-opt-for-a-reverse-merger-with-the-spac-hennessy-capital-nasdaq-hcac/

Canoo, the Los Angeles-based EV manufacturer that utilizes a modular skateboard platform to maximize vehicle interior space, has followed the likes of Nikola (NASDAQ:NKLA), Lordstown Motors, and Fisker in opting for a reverse merger in order to list on the stock exchange.

As a refresher, a reverse merger occurs when a private company is acquired by an existing public company. This allows the merged entity to list on the stock exchange without having to endure the more cumbersome traditional IPO process.