ElectraMeccanica Vehicles, a development-stage electric vehicle manufacturer, filed on Thursday with the SEC to raise up to $28 million in its initial public offering on the Nasdaq. The company is currently listed on the OTCQB under the symbol ECCTF ($219 million market cap).
The Vancouver, Canada-based company was founded in 2015. It has not booked historical revenue, and booked a net loss of $10 million in the twelve months ended September 30, 2017. The company plans to issue shares in a firm commitment basis, but has not yet selected IPO underwriters. No pricing terms were disclosed.
