NetworkNewsBreaks – ADOMANI, Inc. (NASDAQ: ADOM) Completes Secondary Equity Offering

Company: ADOMANI, Inc. (ADOM)
Category: News

ADOMANI (NASDAQ: ADOM), a provider of vehicle drivetrain solutions and purpose-built electric vehicles, has successfully closed an S-1 registered public offering of 3,666,667 units at a public offering price of $3.00 per unit. Each unit is comprised of one share of common stock and a warrant to purchase 1.5 shares of common stock at an exercise price of $4.50. In connection with the offering, Boustead Securities, LLC acted as the exclusive placement agent and Roth Capital Partners served as the financial advisor to the company. After subtracting placement agent fees and other estimated offering expenses payable by ADOMANI, the company received total net proceeds of approximately $9.8 million from the offering. The company intends to utilize its proceeds toward the prepayment of its outstanding secured 9% notes payable as well as working capital or other general corporate purposes.

To view the full press release, visit http://nnw.fm/r4nCr

About ADOMANI, Inc.

ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. ADOMANI’s drivetrain systems are designed to help fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. ADOMANI designs advanced zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles. For more information about the company, visit www.AdomaniElectric.com.

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