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Electric car sharing platform EV Mobility files and sets terms for a $9 million IPO

October 23, 2023

EV Mobility, which provides an electric car sharing platform for hotels and apartments, filed on Monday with the SEC to raise up to $9 million in an initial public offering.

The Beverly Hills, CA-based company plans to raise $9 million by offering 1.8 million shares at a price range of $4 to $6. At the midpoint of the proposed range, EV Mobility would command a market value of $59 million.

EV Mobility provides electric vehicles (EVs) on demand as an amenity to luxury hotels, multi-family luxury apartment buildings, and commercial buildings through its mobile app. The platform allows residents and guests to reserve, unlock, and operate electronic vehicles located in their building or hotel. As of the date of this prospectus, EV Mobility currently has 60 EVs deployed at 39 properties.

EV Mobility was founded in 2021 and booked $1 million in revenue for the 12 months ended September 30, 2023. It plans to list on the Cboe BZX under the symbol EVMO. The company filed confidentially on April 14, 2023. WestPark Capital is the sole bookrunner on the deal.