NEW YORK--(BUSINESS WIRE)--Arcimoto®, makers of the world’s first Fun Utility Vehicle™ — an affordable and practical pure electric vehicle for everyday commuters and fleets, 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, like 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.
“Our team is excited and honored to support this offering from Arcimoto, because their vehicles hold the potential to create a significant paradigm shift in how we all think about mobility. This could represent a tremendous opportunity for all classes of investors,” said John Hullar, Managing Partner, WR Hambrecht + Co. “We are pleased to represent the Arcimoto Reg A+ IPO and we look forward to bringing this offering to the market.”
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 the global urban and suburban use of 4,000 lb. 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 U.S. average passenger car.
The Arcimoto SRK defines the Fun Utility Vehicle category. The SRK delivers a thrilling ride experience, exceptional maneuverability, full comfort for two passengers with gear, optimal urban parking flexibility, and estimated 230 MPGe ultra-efficient operation — all at an affordable target base model price of $11,900. Arcimoto has taken the SRK from a napkin sketch, through eight generations of product development, to a refined design on the cusp of series production and market availability. As we shift to a self-driving future, the Arcimoto SRK platform will provide the low cost, ultra-efficient foundation for urban fleet autonomy as well.
“We inherently recognize that it is no longer sustainable for our wallets, our communities or our environment to commute five miles to work alone or drive to the store to pick up a gallon of milk in a three ton, $50,000 SUV,” said Mark Frohnmayer, CEO and founder of Arcimoto. “At Arcimoto, we’re out to rightsize transportation. The SRK platform is exhilarating to drive, affordable for virtually everyone, hyper-efficient, and eco-friendly for our communities and our planet. We are delighted to bring this opportunity to everyday investors around the world via today’s filing.”
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: http://arcimoto.com/invest
About Arcimoto
Headquartered and manufactured in Eugene, Oregon, Arcimoto is devising new technologies and patterns of mobility that together raise the bar for environmental efficiency, footprint and affordability. Available for pre-order today with a target purchase price of $11,900, Arcimoto’s SRK defines the Fun Utility Vehicle category: it’s the lightest, most affordable and performance-packed electric vehicle suitable for the daily driver. For more information please visit www.arcimoto.com
About WR Hambrecht + Co
WR Hambrecht + Co has been focused on opening the investing world to as many people as possible at fair market prices and was instrumental in reforming Regulation A to help accomplish that for growth companies and investors. Its Regulation A+ strategy is a continuation of the Hambrecht legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.
Legal Disclaimer
No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of this offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date.
The offering, after qualification by the SEC, will be made only by means of the Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.
