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ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO), a designer and manufacturer of electric vehicles, has closed a sale of 10,000,000 common shares with certain institutional investors. The shares were sold at the price $2.00 per share, resulting in the gross proceeds for ElectraMeccanica Vehicles Corp. of $20 million.
ElectraMeccanica Vehicles Corp. intends to use the proceeds for sales and marketing expenditures, capital expenditures, further product development, operational expenditures and for general corporate and working capital purposes.
ROTH Capital Partners acted as sole placement agent for the offering.
About ElectraMeccanica Vehicles Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles (EVs). The company’s flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. The SOLO provides a driving experience that is unique, trendy, fun, affordable and environmentally friendly. InterMeccanica, a subsidiary of ElectraMeccanica, has successfully been building high-end specialty cars for 61 years. For more information, please visit
(Source: Company Press Release | 06.10.20)
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH, please visit
Date of Announcement: 07.01.20
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