WR Hambrecht + Co recently announced Oregon-based sustainable transportation company Arcimoto has filed its Form 1-A Offering Circular to file for its IPO under Reg A+ rules. The company reports that the Arcimoto’s offering will set the stage for a potential future listing on the NASDAQ Capital Market. It is acting as the sole and exclusive underwriter for the offering.
Founded in 2007, Arcimoto, which means “Future I Drive,” seeks to create new technologies and patterns of mobility that will “raise the bar” for environmental efficiency, footprint, and affordability. To accomplish this, Arcimoto will replace the 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. It was revealed:
“The SRK delivers a thrilling ride experience, exceptional maneuverability, full comfort for two passengers with gear, optimal urban parkability, and ultra-efficient operation, 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. As we shift to a self-driving future, Arcimoto’s platform will provide the low cost, ultra-efficient foundation for urban fleet autonomy as well.”
John Hullar, Managing Partner of WR Hambrecht + Co, stated:
“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, which could represent a tremendous opportunity for all classes of investors.”
“We are pleased to represent the Arcimoto IPO and we look forward to bringing this offering to the NASDAQ market.”
All documents have been filed with the SEC.
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