ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO), a designer and manufacturer of electric vehicles, has closed a sale of 10,000,000 common shares with certain institutional investors. According to the update ElectraMeccanica secured gross proceeds of $20 million, with each of the shares sold at the price $2.00. The company intends to use the proceeds for sales and marketing, capital, product development and operational expenditures, as well as for general corporate and working capital purposes. ROTH Capital Partners acted as sole placement agent for the offering.
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About ElectraMeccanica Vehicles Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles (“EVs”). The company’s flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. The SOLO provides a driving experience that is unique, trendy, fun, affordable and environmentally friendly. InterMeccanica, a subsidiary of ElectraMeccanica, has successfully been building high-end specialty cars for 61 years. For more information, please visit https://electrameccanica.com.
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