EV startup Canoo CEO to buy assets after bankruptcy

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Anthony Aquila, CEO of the electric vehicle startup Canoo, has proposed to buy nearly all the company’s assets after its Chapter 7 bankruptcy filing.

He has offered US$4 million in cash for the acquisition through a new entity, WHS Energy Solutions, Inc.

This deal would also eliminate over US$11 million in debt that Canoo owed to a financial firm controlled by Aquila.

Other bidders have until Mar. 28 to submit competing offers for these assets.

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