Storm Sondors Files Two Reg A+ Offers: One for Electric Cars, One for Electric Bikes

Storm Sondors, the founder of the Sondors eBike company that has ridden to success on rewards based funding platforms, has filed to Form 1-As with the SEC.  Each filing represents a different crowdfunding offer.

The first offer, which was initially messaged during Sondor’s Electric Car Reg CF crowdfunding offer on StartEngine, is for a maximum raise of $20 million using Reg A+. The Offering Circular does a good job of detailing the specifics of the investment offer for interested investors.

The offering is for up to 697,350 shares of Common Stock for $28.68 per share. The investment minimum is pegged at $487.56 or 17 shares.  Concurrently, Sondors Electric Car is seeking to issue  697,350 shares of common stock in exchange for $28.68 per share pursuant to Reg D 506(c). While it is not quite clear of the exact valuation of Sondors Electric Car it appears to be pointed to over $100 million – if fully subscribed.

While the offer is not yet listed, the Offering Circular indicates the offer will be posted on StartEngine at some point in the near future.

Sondors believes there is a significant demand for an affordable mass market electric vehicle. The Model SONDORS electric car is said to start at a base price of $10,000. Taking a page out of the Tesla playbook, Sondors intends to offer a pre-sales program online and deliver purchased vehicles directly to the customer’s door.

The second Form 1-A is for Sondor’s eBike company.

According to the Offering Circular, this Reg A+ offer seeks up to 3,333,333 shares of Common Stock for $15.00 per share with the number of authorized shares at 20,000,000. Investors will be held to a minimum investment is $495.00  or 33 shares. Similar to the Sondors Electric car company, Sondors is running a concurrent offering under Reg D 506(c) to sell 666,666 shares of common stock for $15.00 per share. This offer is expected to be posted on StartEngine too.

Sondors states that more than 20,000 electric bikes have been sold in 42 countries, most of which have been sold in the United States. They see tremendous opportunity to grow Sondors Sales internationally and better serve electric bike markets in Europe, India, and China.

This newest company was formed with the intent to market and sell the existing line of Sondors brand electric bikes pursuant to a royalty free license granted by Sondors Global, LLC, a related party entity, which holds the intellectual property for Sondors electric bikes.  Sondors Inc. will purchase the electric bikes, components and accessories for cost plus up to 5%, subject to a finalized agreement. During the next twelve months, the company intends to fund its operations with funding from an anticipated Reg CF campaign (yet listed) or, if needed, additional debt and/or equity financings.



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