Arcimoto, Inc. Announces Closing of $12 Million Public Offering
EUGENE, Ore., Jan. 20, 2023 (GLOBE NEWSWIRE) — Arcimoto, Inc.® (NASDAQ:FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles, today announced the closing of its previously announced public offering of 4,000,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 4,000,000 shares of common stock at a combined purchase price of $3.00 per share and accompanying warrant for aggregate gross proceeds of approximately $12 million, before deducting placement agent fees and other offering expenses. The warrants have a five-year term, are exercisable immediately and have an exercise price of $3.00 per share.