Electric vehicle company ATLIS has announced plans to list/place on the Nasdaq this summer, having reserved the ticker trading symbol “AMV”.
Only founded in 2016, the Arizona-based company targeted a market gap to develop electric vehicles offering the towing and payload capabilities of diesel-powered trucks or pick-ups.
Such vehicles are integral to agriculture, utilities, construction, and the emergency services, particularly in the huge North American market.
Mark Hanchett, ATLIS Motor Vehicles Founder and CEO, said: "From inception, we've had an unwavering commitment to produce an electric truck that does not comprise performance or durability.
“This new (IPO) funding will allow us to continue to scale operations to produce state-of-the-art batteries, platforms and pickups needed to advance the work truck market. I'd like to acknowledge and thank our 20,000+ investors that have backed our efforts over the years; this is a milestone moment for them as well."
Expansion to date has been enabled by more than $30 million in crowdfunding, including a current $10 Reg A+ raise now nearing closure.
Award-winning broker dealer Rialto Markets has partnered ATLIS Motor Vehicles on this capital-raising journey and its CEO and Co-founder Shari Noonan, who received the prestigious 2022 Markets Choice Positive Change Visionary Award this week, said:
“As ATLIS has lit the way in auto technology, it has been a beacon to many other young and successful private companies, founded on the belief and confidence of their crowdfunding investor communities and creating so many options for successful growth.
“In the case of ATLIS Motor Vehicles, the crowdfunding path included a heavily oversubscribed six-week $5 million Regulation CF raise – one of 2021’s fastest – and this year’s raise has also been rapid.
“As a fast-moving and expanding company ourselves, we are so proud to have been involved in such a success story.”