EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (NASDAQ: FUV) — makers of the Fun Utility Vehicle® (FUV®) — an affordable, practical, and joyful pure electric vehicle for everyday commuters and fleets, today announced pricing of its offering of 504,900 shares of its common stock at $3.00 per share. The offering, which is expected to result in $1,514,700 in gross proceeds to the Company, was initiated Friday, November 18, 2018, at the conclusion of Arcimoto’s earnings webinar, and was marketed via email and online throughout the weekend. An announcement of the closing details of this offering is anticipated later today.
About the Fun Utility Vehicle (FUV)
Arcimoto’s Fun Utility Vehicle is an ultra-efficient, pure electric three-wheeled motorcycle designed to meet the utility needs of a wide range of daily drivers. The FUV takes drivers from 0-fun instantly, features rockstar parking, comfortable seating for two passengers, enclosure options for different climates, and storage options for a wide variety of utility needs. Lightweight and maneuverable, quick and powerful, the FUV brings joy to the typically mundane transit, whether it be a commute, delivery, or errand run.
About Arcimoto, Inc.
Headquartered and manufactured in Eugene, Oregon, Arcimoto, Inc. (NASDAQ: FUV) is devising new technologies and patterns of mobility that together raise the bar for environmental efficiency, footprint and affordability. Available for pre-order today, Arcimoto’s Fun Utility Vehicle is one of the lightest, most affordable, and most appropriate electric vehicles suitable for the daily driver. Learn more at http://www.arcimoto.com.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering of common stock was made pursuant to an effective shelf registration statement, prospectus and related prospectus supplement. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Arcimoto will arrange to send you the prospectus supplement and accompanying prospectus if you request the documents by calling (541) 683-6293 or emailing email@example.com.
Safe Harbor / Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to identify financing sources in the short-term on terms favorable to our Company; our ability to manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; the volatility of our stock price; our ability to maintain our NASDAQ Capital Market listing; costs and risks associated with litigation; and other risks described from time to time in periodic and current reports that we file with the SEC.