On Monday, we here at Elio Motors revealed the third largest milestone of 2015: our engine. So, how do you follow up a milestone that includes being the first startup automotive company in the last 60 years to design your own engine?
Number 2: Stock Sale
In March of this year, the SEC finalized rules mandated by the 2012 JOBS (Jumpstart Our Business Startups) Act that made it easier for companies to raise capital from “non-accredited” investors. Previously, only accredited investors, who make up less than 1% of the population, had the opportunity to invest in promising startups through initial public offerings (IPOs). Regulation A, as amended by these final rules that make up “Regulation A+”, has the potential to help launch a startup while allowing individuals to invest in a lucrative project they believe in. Paul Elio believes “Regulation A+ democratizes the investment process.”
On June 19th, Elio Motors began the “testing the waters” phase, which is essentially a way to gauge interest from potential investors. Elio Motors set a goal of $25 million for the stock sale. The interest from prospective investors was overwhelming. By November 20th, the date Elio Motors received qualification from the SEC to initiate the stock sale, a stunning $45.6 million of non-binding expressions of interest had been received, an impressive 183% of the goal.
Forbes has declared that the “New JOBS Act Regulation A+ will be a game changer.” Regulation A+ has clear benefits to both startups and investors and can contribute to the creation of American jobs. At the forefront of this potentially course altering investment revolution is Elio Motors. As one of the first companies to leverage this new fundraising option, the interest generated by Elio Motors has led more startups to participate in Regulation A+.
From the beginning, Elio Motors has been on a mission to transform the way we move. This revolutionary vehicle can help curb carbon emissions, reduce our dependence on foreign oil, make transportation more affordable, and create American jobs. Along the way, our mission has taken on different and exciting new facets. The stock offering under Regulation A+ perfectly fits the Elio Motors mission, as it includes a segment of the population that was previously unable to invest in the next big thing. While the vehicle itself seats two, Regulation A+ allows for thousands of individuals to join Elio Motors in its undertaking to alter the course of transportation.
Check back on Monday for the number 1 milestone of 2015!
The securities offered hereby are highly speculative. Investing in shares of Elio Motors, Inc. involves significant risks. This investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following this offering, it may not continue. To obtain a copy of the Offering Circular, go to http://www.eliomotors.com/equity or click here to download directly.