Arcimoto Closes $12 Million Public Offering

EUGENE, Ore., Jan. 20, 2023 (GLOBE NEWSWIRE) — Arcimoto, makers of rightsized, outrageously fun, ultra-efficient electric vehicles, today announced the closing of its previously announced public offering of 4,000,000 shares of common stock and warrants to purchase up to 4,000,000 shares of common stock at a combined purchase price of $3.00 per share and accompanying warrant for aggregate gross proceeds of approximately $12 million, before deducting placement agent fees and other offering expenses. The warrants have a five-year term, are exercisable immediately and have an exercise price of $3.00 per share.

We intend to use the net proceeds from the offering to repay the convertible note with 3i, LP and the remainder of the proceeds for working capital and general corporate purposes. The convertible note with 3i, LP has a maturity date of August 31, 2024 and an interest rate of six percent (6%).

A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.

This offering of the common stock (or common stock equivalents in lieu thereof) and accompanying warrants was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-261955) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The preliminary prospectus supplement, accompanying base prospectus and final prospectus supplement were previously filed with the SEC and are available on the SEC’s website located at Electronic copies of the prospectus supplement may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For the latest company updates, check out our Q3 Stakeholder Webinar. Follow Arcimoto on YouTube, Facebook, Instagram, Twitter, TikTok, and LinkedIn. Investor information about the company, including press releases, stakeholder webcast replays, and more can be found at

About Arcimoto, Inc.
Arcimoto is a pioneer in the design and manufacture of rightsized, ultra-efficient, incredibly fun electric vehicles for everyday mobility. Built on the revolutionary three-wheel Arcimoto Platform, our vehicles are purpose-built for daily driving and local delivery, all at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Based in Eugene, Oregon, the Arcimoto team is dedicated to creating world-class EVs that make the world a better place. For more information, please visit