Canoo Settles SEC Investigation Into EV Maker’s SPAC Merger

Canoo Inc. agreed to pay $1.5 million as part of a settlement of a US Securities and Exchange Commission investigation into the electric-vehicle startup’s blank-check merger.

The resolution was disclosed Thursday in a statement that also detailed the company’s fourth-quarter earnings. Canoo lost $80.2 million in the final three months of 2022 and finished the year with $36.6 million in cash and equivalents.

The SEC opened the probe into Canoo in early 2021 in part to look into the startup’s merger with a special purpose acquisition company. The agency told Canoo it was also investigating its “operations, business model, revenues, ...