Sondors Inc has listed its anticipated Reg A+ crowdfunding offer on StartEngine today. Crowdfund Insider reported in July that Sondors had filed the necessary paperwork with the Securities and Exchange Commission (SEC) to sell securities in both Sondors Inc. – the electric bike manufacturer and Sondors Electric Car – a new company created by founder Storm Sonders. The electric car company, that prevously raised capital under Reg CF, has yet to list its Reg A+ offer.
The additional funding will be used to expand market presence globally, launch a promotional campaign and to introduce new products – anticipated by Q1 of 2018.
Company representatives said that Sondors was returning to his company’s “crowdfunding roots” to raise capital. The company envisions this offering as a way to bring the thousands of SONDORS fans into the company in a more formal way – by allowing them to share the company’s success as not only bike owners, but stockholders. Sondors first raised money using Indiegogo in a pre-sales campaign. Sondors first campaign raised over $6 million and remains one of the largest Indiegogo offerings of all time. The first campaign was not without problems as disputes cropped up with ownership questions and a relationship that soured with the marketing firm that helped fuel Sondors’ success.
“While we could go a more traditional route, crowdfunding is simply in my DNA. To date I haven’t taken a single outside investor, but that is about to change. I believe everyone should have the opportunity to not only buy a SONDORS but also have the chance to share in the potential successes and challenges. Today I am inviting the people who built this brand and those who believe in the potential of what we can do, to join me and invest in the future of electric transportation and help take SONDORS electric bikes global.”
The Sondors eBike company currently has three different products: Sondors Fat Tire, Sondors Thin and Sondors Fold. Each model comes with several customizable options including color and upgradeable features such as LCD five-speed electric pedal assist, larger capacity batteries, aluminum frame, front suspension, and a 7-speed gear shifter.
Additionally, the company reports it has several new models in the works designed to tap into additional market segments and meet future demand. Sondors says their company has become one of the largest designers and distributors of eBikes in the United States, selling more than 20,000 bikes.
“What I am most proud of is the impact these bikes have had on people’s lives,” stated Sondors. “SONDORS electric bikes have taken people farther than I ever anticipated, both literally and figuratively. The stories I hear every day inspire me to go further – to make our bikes available to people everywhere.”
Sondors believes the eBike sector is still in its infancy. Total eBike sales in the US are only a fraction of total bike sales. Sondors believes electric bikes will soon move beyond the niche market to become a widely adopted form of transportation and the company expects global sales to increase by about $10 billion over the next ten years.
“As we move forward and work towards global expansion, I promise to do what I do best: move things along faster and more affordably than anyone else, and maintain the balance of affordability and luxury in SONDORS’ products,” added Sondors.
Individuals may invest in Sondors Inc. for a minimum of $495 at $15 per share. The pre-money valuation has been pegged at $98.8 million. The company hopes to raise up to $50 million – the maximum allowed under the Reg A+ securities exemption. The Offering Circular includes all of the operational detail and should be required reading for any investor.
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