Arcimoto announces $2.5M registered direct offering

Arcimoto 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. Dawson James Securities, Inc. acted as the sole placement agent for the offering.