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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