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ElectraMeccanica Vehicles Warrants attached offering, Nasdaq: SOLO

Developing three-wheeled electric vehicles.

Industry: Consumer Discretionary

First Day Return: n/a

Industry: Consumer Discretionary

We are a development-stage electric vehicle company focusing on the market demand for EVs that are efficient, cost-effective and environmentally friendly methods for urban residents to commute. We believe that our flagship EV called the SOLO ($16K MSRP) is the answer to such market demand. We have two other EV candidates in an advanced stage of development, the Super SOLO ($82K) and the Tofino ($41K). We have built 16 pre-production vehicles. We have used some of these as prototypes, have delivered four to customers upon payment, and have used others as test drive models in our two showrooms. At our facilities in British Colombia, we can manufacture two to four vehicles per month. Our ability to build EVs at our own facilities has been enhanced by our recent acquisition of Intermeccanica which has over 50 years of custom car manufacturing expertise. We have private orders for 609 SOLOs (each with a $250 refundable deposit), 14 Super SOLOs ($1,000) and 106 Tofinos ($1,000). We have 59,831 corporate orders from entities that provided non-binding letters of interest. If we complete this offering, we expect to begin placing orders with our investor and manufacturing partner Zongshen in the first half of 2018 and to begin sales of SOLOs in August 2018. We anticipate that Zongshen will produce up to 5,000 of our cars in 2018, 20,000 of our cars in 2019 and 50,000 of our cars in 2020.
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IPO Data
IPO File Date 02/01/2018
Offer Price $4.25
Price Range n/a
Offer Shares (mm) 2.4
Deal Size ($mm) $10
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 08/09/2018
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $10
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Vancouver, Canada
Founded 2015
Employees at IPO 42
Website www.electrameccanica.com

ElectraMeccanica Vehicles (SOLO) Performance