On March 5, 2021, Energica Motor Company S.p.A. (BIT:EMC) closed the transaction. The company issued 7,505,206 common shares for gross proceeds of €13,359,267. The transaction included participation from Ideanomics, Inc. (NasdaqCM:IDEX) for €10,909,091.34, and other investors for €2,450,170.