Arcimoto, makers of the world’s first Fun Utility Vehicle™ — an affordable and practical pure electric vehicle for everyday commuters and fleets, has filed paperwork for an IPO which sets the stage for a potential future listing on the NASDAQ Capital Market. The relatively new changes to SEC Regulation A provide a more capital-efficient pathway for market-entry technology companies, like Arcimoto, to offer equity to the general public. WR Hambrecht + Co is acting as the sole and exclusive underwriter for the Reg A+ IPO for Arcimoto.
Arcimoto was founded in 2007 to catalyze the shift to a sustainable transportation system. The name Arcimoto means “Future I Drive,” and it is the company’s aspiration to devise new technologies and patterns of mobility that raise the bar for environmental efficiency, footprint and affordability. Arcimoto plans to achieve its mission by replacing the global urban and suburban 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.
The Arcimoto SRK defines the Fun Utility Vehicle category. The SRK delivers a thrilling ride experience, exceptional maneuverability, full comfort for two passengers with gear, optimal urban parking flexibility, and estimated 230 MPGe ultra-efficient operation — all 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 and market availability. As we shift to a self-driving future, the Arcimoto SRK platform will provide the low cost, ultra-efficient foundation for urban fleet autonomy as well.
“We inherently recognize that it is no longer sustainable for our wallets, our communities or our environment to commute five miles to work alone or drive to the store to pick up a gallon of milk in a three ton, $50,000 SUV,” said Mark Frohnmayer, CEO and founder of Arcimoto. “At Arcimoto, we’re out to rightsize transportation. The SRK platform is exhilarating to drive, affordable for virtually everyone, hyper-efficient, and eco-friendly for our communities and our planet. We are delighted to bring this opportunity to everyday investors around the world via today’s filing.”
The Offering Circular filed with respect to the Arcimoto Reg A+ IPO is available at: https://www.sec.gov/Archives/edgar/data/1558583/000114420417033680/v469178_partiiandiii.htm
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.