Arcimoto announces $20 million registered direct offering of convertible notes

Eugene, ore., sept. 01, 2022 (globe newswire) -- arcimoto, inc.® (nasdaq: fuv), makers of rightsized, outrageously fun, ultra-efficient electric vehicles, announced that on august 31, 2022, it entered into a securities purchase agreement with an institutional accredited investor to issue up to $20 million aggregate principal amount of senior secured convertible notes (the “notes”). the offering is expected to close on september 1, 2022, subject to customary closing conditions. the company currently intends to use the net proceeds from this offering for working capital and general corporate purposes.
FUV Ratings Summary
FUV Quant Ranking