Envirotech vehicles completes second closing of private placement

This is the second closing of a previously announced $23 million private placement corona, ca / accesswire / may 10, 2021 / adomani, inc. ( otcqb:adom ) (dba envirotech vehicles) a provider of new zero-emission, purpose-built electric vehicles and drivetrain solutions (the "company"), announced today that it completed the second closing of its previously announced private placement on may 7, 2021, resulting in $16.275 million of additional cash proceeds. this private placement is the second and final closing under a securities purchase agreement entered into on december 24, 2020 to raise gross proceeds of up to $23 million resulting from the sale of shares of the company's common stock and warrants to purchase additional shares of its common stock through a private investment in public equity (pipe) financing, which was to occur in two separate closings (the "pipe financing").
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