Item 1.01 Entry into a Material Definitive Agreement.

On November 23, 2020, Beam Global (the "Company"), entered into an Underwriting Agreement (the "Underwriting Agreement") with Maxim Group LLC (the "Underwriter"), pursuant to which the Company agreed to issue and sell to the Underwriter in an underwritten public offering (the "Offering") an aggregate of 250,000 shares (the "Shares") of common stock, $0.001 par value per share, of the Company (the "Common Stock"). Each share of Common Stock is being offered and sold to the public for a public offering price of $30.00 per share.

The Company intends to use the aggregate net proceeds of the offering primarily for working capital and general corporate purposes. The Company received gross proceeds of approximately $7,500,000 before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Offering closed on November 27, 2020. Maxim Group LLC acted as the sole book-running manager of the Offering.

The Underwriting Agreement contains customary representations, warranties, and covenants by the Company. It also provides for customary indemnification by each of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended (the "Securities Act"), other obligations of the parties and termination provisions. In addition, pursuant to the terms of the Underwriting Agreement, certain officers and directors of the Company have entered into "lock-up" agreements, subject to certain exceptions, with the Underwriters that generally prohibit the sale, transfer, or other disposition of securities of the Company for a period of 90 days from the date of the Underwriting Agreement.

The Offering was made pursuant to the Company's effective "shelf" registration statement on Form S-3 and an accompanying prospectus (Registration No. 333-238701) filed with the Securities and Exchange Commission (the "SEC") on May 26, 2020 and declared effective by the SEC on June 4, 2020, as supplemented by prospectus supplement filed with the SEC on November 27, 2020.

A copy of the Underwriting Agreement is attached as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the material terms of the Underwriting Agreement and the warrants does not purport to be complete and is qualified in its entirety by reference to such exhibits, which are incorporated by reference. A copy of the legal opinion of Weintraub Tobin Chediak Coleman Grodin Law Corporation relating to the legality of the issuance and sale of the Shares being sold in the Offering is filed as Exhibit 5.1 to this Current Report on Form 8-K.

The provisions of the Underwriting Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to such agreement and are not intended as a document for investors or the public to obtain factual information about the current state of affairs of the parties to that document. Rather, investors and the public should look to other disclosures contained in the Company's filings with the SEC, including the Prospectus Supplements.





Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties, such as statements related to the anticipated closing of the Offering and the amount of proceeds expected from the Offering. The risks and uncertainties involved include the Company's ability to satisfy certain conditions to closing on a timely basis or at all, as well as other risks detailed from time to time in the Company's filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements, which are based on the Company's current expectations and assumptions and speak only as of the date of this report. The Company does not intend to revise or update any forward-looking statement in this report to reflect events or circumstances arising after the date hereof, except as may be required by law.













  2


Item 8.01 Other Events

On November 23, 2020, the Company issued a press release announcing the Offering, as described above in Item 1.01. The full text of the press release is set forth as Exhibit 99.1 attached to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits





(d) Exhibits.



Exhibit No.      Exhibit Description

1.1                Underwriting Agreement, dated November 23, 2020, by and between
                 Beam Global and Maxim Group LLC
5.1                Opinion of Weintraub Tobin Chediak Coleman Grodin
23.1             Consent of Weintraub Tobin Chediak Coleman Grodin (included in
                 Exhibit 5.1)
99.1               Press release dated November 23, 2020 relating to the Offering






































  3

© Edgar Online, source Glimpses