Elio Motors, Inc. (OTCPK:ELIO) announced a private placement of 909,901 common shares at a price of $2.75 per share for gross proceeds of $2,500,000 on April 24, 2018. The transaction included participation from new investor Overstock.com, Inc. (NasdaqGM:OSTK). The company issued securities pursuant to exemption provided under Regulation D and Regulation S.