Maker of 3-wheeler EV Arcimoto files for IPO under Reg A
24 June 2017
Arcimoto, the maker of a three-wheeled electric “Fun Utility Vehicle”, has filed its Form 1-A Offering Circular for the offering of common stock under SEC Regulation A, setting the stage for a potential future listing on the NASDAQ Capital Market. The relatively new changes to Regulation A provide a more capital-efficient pathway for market-entry technology companies, such as Arcimoto, to offer equity to the general public. WR Hambrecht + Co is acting as the sole and exclusive underwriter for the Reg A+ IPO for Arcimoto.
Arcimoto was founded in 2007 to catalyze the shift to a sustainable transportation system. The name Arcimoto means “Future I Drive,” and it is the company’s aspiration to devise new technologies and patterns of mobility that raise the bar for environmental efficiency, footprint and affordability. Arcimoto plans to achieve its mission by replacing internal combustion engine vehicles for regular daily trips with the Arcimoto SRK, a pure electric solution that is a quarter of the weight, a third the purchase cost, and ten times as efficient as the US average passenger car.
The SRK delivers an estimated 230 MPGe with a target base model price of $11,900.
The Offering Circular filed with respect to the Arcimoto Reg A+ IPO is available at: https://www.sec.gov/Archives/edgar/data/1558583/000114420417033680/v469178_partiiandiii.htm
The Arcimoto web page for this offering, including the Arcimoto Reg A+ IPO introduction video, is here.
What strikes me about things like this is that they are much wider than a motorbike and so cannot bunch up in traffic the way scooters can. Thus, while they may use less fuel, they use the same road space as a car.
Also, the IPO specs tend to be a lot better than the real ones.
Posted by: mahonj | 25 June 2017 at 12:02 AM