On June the 23rd, Arcimoto announced it had filed its Form 1-A Offering Circular to begin offering common stock under SEC Regulation A. The company is best known for producing pure electric utility vehicles. Based out of Eugene, Oregon, Arcimoto produces the SRK, which they refer to as the Fun Utility Vehicle. The SRK is available for pre-order today with an estimated target price of $11,900. With the filing of the Form 1-A Offering Circular, the company points to a possible listing on the NASDAQ sometime in the future.
Regulation A was recently adapted with new changes to make the pathway for market entry more capital efficient for modern technology companies. Arcimoto has employed WR Hambrecht + Co to act as the exclusive underwriter for the Regulation A+ IPO. John Hullar of WR Hambrecht + Co. admitted, “Our team is excited and honored to support this offering from Arcimoto, because their vehicles hold the potential to create a significant paradigm shift in how we think about mobility.” Hullar went on to claim the offering could represent “a tremendous opportunity for all classes of investors.”
Arcimoto was founded in 2007 with the intention of bringing sustainability to modern transportation systems. The company hopes their new technologies will help to improve environmental efficiency, footprint and affordability for mobility. Arcimoto is pricing their stock between $11 and $13.50. Additional details about the offering can be found by checking out the company’s Offering Circular.