Adomani has announced the official closing of its Reg A+ crowdfunding round having raised $14.261 million. Crowdfund Insider reported earlier this week the offer had closed at $14.45 million, according to the offer page on FlashFunders.
The company said it expects its shares to trade on or about June 14th on NASDAQ under the ticker symbol ADOM. Adomani will be the first Reg A+ issuer to raise capital under Reg A+ and subsequently list their shares on NASDAQ. It looks like Adomani will become the second Reg A+ issuer to trade on an exchange following Myomo’s listing expected to trade on NYSE MKT on June 12th.
Adomani said that 2,852,275 million shares were sold including the sale of 342,273 shares by certain company stockholders.
“This is truly a milestone in Admonani’s quest to deliver our products and technology to the market,” said Adomani President and CEO Jim Reynolds. “The net proceeds to us from this offering allows us to begin to execute our business plan, and to pursue opportunities to accelerate our growth. We are very thankful to our investors for having the confidence in us to enable us to do that.”
Adomani is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains. The company enables existing fleet vehicles to transition over to electric or hybrid motors. The company is poised to expand its services in China.
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