FUV - Arcimoto stock dips after pricing ~$12M securities offering
- Arcimoto ( NASDAQ: FUV ) shares plunged 59% Wednesday morning after the EV maker priced its ~$12M securities offering .
- The offering includes 4M shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 4M shares, issued at a combined purchase price of $3.00 per share and accompanying warrant.
- The warrants to be issued will have a five-year term and will be exercisable immediately at an exercise price of $3.00 per share.
- The offering is expected to occur on or about January 20, 2023; net proceeds will be used for working capital and other general corporate purposes.
For further details see:
Arcimoto stock dips after pricing ~$12M securities offering