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ICYMI- An Elio Motors Press Release


Elio Motors Kicks Off Security Token Pre-Sale to Fund Production

September 20, 2018

PHOENIX, AZ – September 20, 2018 — Elio Motors, Inc. (OTCQB: ELIO), developer of the ultra-high-mileage three-wheel vehicle, the Elio, announced today that it has formally launched the pre-sale of the ElioCoin Security Token.  The company also announced that Patrick M. Byrne,’s founder and CEO, has agreed to become the first participant in the pre-sale.

Elio Motors currently intends to raise up to $25 million in the offering, which is limited to certain institutional and accredited investors pursuant to Regulation D of the Securities Act of 1933 (the “Securities Act”).  The proceeds of the offering will be used to fund the capital expenditures necessary to bring the Elio into production.

“This is a watershed moment for Elio Motors,” said Paul Elio, CEO.  “Our newest partnerships with Dr. Byrne and other major institutional investors have further crystallized our vision of bringing the Elio to production. We look forward to the launch of ElioCoin and offering secondary trading on tZERO’s security token platform.”

“I am honored to be the first participant in the ElioCoin pre-sale, as I am confident in the company’s movement toward bringing this evolutionary vehicle into production,” said lead investor Dr. Byrne. “More importantly, I believe the design of the ElioCoin is groundbreaking and may pave a way for a new era in raising funds to pay for public infrastructure (such as bridges and turnpikes), real estate, and even fund pharmaceutical research (regarding which I have already been enthusiastically contacted).”

JonesTrading Institutional Services LLC is acting as the placement agent for the pre-sale which will continue through October 15th, with the company reserving the right to extend or terminate the pre-sale at its sole discretion. Units in the pre-sale offering are constituted of ElioCoin Tokens and Series E preferred equity convertible at $10 per share. Following the pre-sale, Elio plans to launch a more broadly marketed main sale of the ElioCoin. This sale will be conducted in the same spirit as the company’s long-stated goal of building a vehicle affordable to a wide range of consumers.  Details on the main sale will be forthcoming after the conclusion of the pre-sale.  As currently planned, the main sale will also be conducted pursuant to Regulation D of the Securities Act.

Neither the ElioCoin nor the Series E have been registered under the Securities Act and neither may be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements. In addition, as a condition to the sale of the Series E, the company has agreed to file a re-sale registration statement with the U.S. Securities and Exchange Commission for purposes of registering the re-sale of the shares of common stock issuable upon conversion of the Series E.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.  Any offering of the securities under the re-sale registration statement will only be by means of a prospectus.

Duane Morris LLP has been advising Elio Motors in connection with the ElioCoin Security Token pre-sale and the private placement of the Series E.

About Elio Motors

Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheel Elio is engineered to attain a highway mileage rating of up to 84 mpg, while providing the comfort of amenities such as power windows, power door lock, air conditioning and cruise control, accompanied by the safety of multiple airbags and an aerodynamic, enclosed vehicle body. Elio’s first manufacturing site will be in Shreveport, Louisiana.

About JonesTrading

JonesTrading is one of the oldest and largest pure trading firms headquartered in the U.S. and a worldwide leader in block trading. Since 1975, the sole focus of JonesTrading has been creating liquidity for institutions on an unconflicted basis. The ability to provide a secure, trusted platform connecting a diverse group of institutional market players enables the firm to unlock liquidity, while providing best-quality execution for larger and more complex trades.  JonesTrading has leveraged its approach to liquidity creation into the capital markets. Access to institutional liquidity brings a price-efficient and cost-effective new approach to these historically underserved clients.


Forward Looking Statements

Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements.  Forward-looking statements and information can be identified by the use of words such as “experts,” “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could” , “should”, “would”, “might”, or “will” be taken, occur or be achieved. These statements involve risks and uncertainties, which are described in more detail in the Company’s periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the Company on the date of this press release.  Elio Motors assumes no obligation to update the information in this press release.


This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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