Elio Motors is the first US based organization to raise capital using Regulation A+ — WR Hambrecht + Co Serves as Elio Motors’ Capital Markets Advisor
SAN FRANCISCO, CA, March 8, 2016 – On February 19, Elio Motors‘ shares launched on OTCQX. It became the first US-based organization to raise capital using Regulation A+, and also the first to have its shares publicly traded. Nearly $17M in funding was raised on the StartEngine Crowdfunding platform, and those shares are now trading on the OTCQX market. WR Hambrecht + Co serves as Elio Motors’ capital markets advisor and Designated Advisor for Disclosure (DAD), responsible for providing professional guidance on OTCQX requirements, U.S. securities laws, and corporate finance strategy.
“We’ve been engaged by a lot of great companies looking to take advantage of the new Regulation A, and I’m glad that we can now get started,” said John Hullar, Managing Partner. “We support the expansion of the Regulation A exemption, because it creates a new option for early-stage growth companies to access public markets through the A+ IPO, which benefits entrepreneurs and Investors, creates jobs and boosts the economy.”
In March 2015, the United States Securities and Exchange Commission (SEC) finalized rules under Title IV of the 2012 Jumpstart Our Business Startups (JOBS) Act, which paved the way for private companies to raise up to $50 million from accredited and non-accredited investors alike. This ruling is known as “Regulation A+.”
These Regulation A reforms will transform and reinvigorate a capital raising for smaller companies, their executives, and their early funders. W.R. Hambrecht + Co., LLC and its founder, Bill Hambrecht, have been longtime advocates for these reforms, and were cited over 40 times in the SEC’s adoption of the rule implementing these changes. WR Hambrecht +Co is now leading the efforts to take advantage of these changes to help numerous great companies obtain the capital they need to survive and grow.
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-wheeled 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 and air conditioning, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Starting MSRP excludes options, destination/delivery charge, taxes, title and registration. Anticipated production date is based upon timely receipt of requisite funding.
About WR Hambrecht + Co
WR Hambrecht + Co was founded in January 1998 to level the playing the field for investors and corporate clients. Like its predecessor firm, Hambrecht & Quist, WRH+Co seeks to identify high prospect growth-stage companies, and then enable access to the capital necessary to fund development, marketing and infrastructure so that these companies can achieve their full potential. WRH+Co’s Regulation A+ strategy is a continuation of Bill Hambrecht’s legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.
These securities 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. To obtain a copy of the Offering Circular, go to http://www.eliomotors.com/equity or click here to download directly.