FUV - Arcimoto receives $6M in additional funding

• Arcimoto ( NASDAQ: FUV ) received $6M in additional funding through a real estate loan on their Eugene, Oregon factory; additional financing came in after the $12M stock offering that closed on Jan.20.
• Partial net proceeds were used to repay the convertible note with 3i while remaining to be used for working capital and general corporate purposes.
• "We announced this week the start of 2023 production with new steering features and improvements on the FUV and Deliverator. This additional funding paired with our efforts in reducing vehicle costs and increasing sales gives the team practical confidence as we continue to focus on the growth of FUV and Deliverator programs," interim CEO Jesse Fittipaldi commented.

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