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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Arcimoto, Inc.    FUV

ARCIMOTO, INC.

(FUV)
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ARCIMOTO : Entry into a Material Definitive Agreement (form 8-K/A)

11/24/2020 | 04:46pm EST

Item 1.01 Entry into a Material Definitive Agreement.

As previously reported on a Current Report on Form 8-K filed on November 24, 2020 by Arcimoto, Inc. (the "Company"), the Company entered into an engagement letter agreement (the "Engagement Agreement"), dated November 23, 2020, by and between the Company and The Special Equities Group, a division of Bradley Woods & Co. Ltd. ("SEG"), pursuant to which the Company engaged SEG to act as placement agent for the registered direct offering of an aggregate of 1,000,000 shares of the Company's common stock, no par value per share, at a purchase price per share of $15.25 for aggregate gross proceeds of approximately $15.25 million (the "Offering").

The Company is filing this amendment to the above-referenced Form 8-K to report that the Company amended the Engagement Agreement to engage A.G.P./Alliance Global Partners ("A.G.P.") to act as co-placement agent in the Offering. Pursuant to the Engagement Agreement, as amended, the Company agreed to pay SEG and A.G.P. a total cash fee equal to 8% of the gross proceeds received by the Company in the Offering, totaling approximately $1,220,000.

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Financials (USD)
Sales 2020 3,02 M - -
Net income 2020 -15,5 M - -
Net Debt 2020 - - -
P/E ratio 2020 -38,0x
Yield 2020 -
Capitalization 665 M 665 M -
Capi. / Sales 2020 220x
Capi. / Sales 2021 30,4x
Nbr of Employees 117
Free-Float 76,5%
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Technical analysis trends ARCIMOTO, INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 12,25 $
Last Close Price 20,88 $
Spread / Highest target -4,21%
Spread / Average Target -41,3%
Spread / Lowest Target -61,7%
EPS Revisions
Managers and Directors
NameTitle
Mark D. Frohnmayer Chairman, President & Chief Executive Officer
Terry L. Becker Chief Operating Officer & Director
Douglas M. Campoli Chief Financial Officer, Secretary & Treasurer
Jesse Grant Eisler Independent Director
Joshua S. Scherer Independent Director
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