Arcimoto, inc. announces $2.5 million registered direct offering and concurrent private placement

Eugene, ore., june 12, 2023 (globe newswire) -- arcimoto, inc.® (nasdaq: fuv) (“arcimoto” or the “company”), makers of purpose-built electric utility and consumer vehicles, today announced the entry into agreements with certain investors relating to the sale of 1,467,576 shares of common stock in a registered direct offering and warrants to purchase 2,935,152 shares of common stock in a concurrent private placement, at a combined purchase price of $1.70, for aggregate gross proceeds of approximately $2.5 million, before deducting placement agent fees and other offering expenses. the warrants to be issued will have an exercise price of $1.75 per share, a term of five years and six months and will be exercisable six months after their issuance.
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