February 8, 2022 (Investorideas.com Newswire) Electric vehicle and mobility startup, Atlis Motor Vehicles, plans further expansion with a $10 million Regulation A+ crowdfunding campaign on the Rialto Markets platform.
The move comes hot on the heels of a heavily oversubscribed six-week $5 million Regulation CF crowdfunding raise – one of 2021’s fastest and also managed by Rialto Markets. This took the Arizona-based company’s crowdfunding total to more than $21 million.
Injecting a further $10 million will enable ATLIS to:
Recruit and retain engineers – doubling the workforce in 2022
Buy additional battery testing and validation equipment to ramp up for full-scale production and the delivery of battery cells and packs to customers in the first half of this year
Complete production-level design for the XP platform and XT pickup truck
Expand sales and marketing initiatives
ATLIS President Annie Pratt said “Partnering with Rialto Markets to rapidly raise funding has enabled us to efficiently scale battery development and move towards vehicle production.
“We have no doubt that another crowdfunding round with Rialto Markets will further accelerate development and production of our ground-breaking products.”
Rialto Markets’ CEO and Co-Founder Shari Noonan said: “We are a trusted ‘go to’ fully regulated broker-dealer, empowering exciting and ground-breaking companies like ATLIS to raise money through our unrivalled expertise in crowdfunding and institutional investment.
“And we operate a fully compliant and unique secondary market trading platform for buying and selling shares in private companies.
“We were so pleased with the success ATLIS had using our platform for its Regulation CF campaign and are delighted to now support its next raise and associated expansion.”
For this latest ATLIS offering, investors must purchase at least 16 shares at $15.88 for a minimum investment of $254.08 – find out more and invest here.
For further information or to arrange an interview with Annie or Shari please contact steve.philp@worlddigitalfoundation.com
ATLIS Motor Vehicles is a mobility technology company developing products that will power work. The ATLIS innovators are building an electric vehicle technology platform for heavy and light duty work trucks used in the agriculture, service, utility, and construction industries.
Rialto Markets is a FINRA regulated Broker Dealer (Rialto Primary) operating an SEC regulated Alternative Trading System (Rialto Secondary) for private securities including those issued as a Digital Asset Security.
Rialto Primary supports companies issuing equity and debt securities through Reg A+, Reg CF, and Reg D exemptions. Rialto Markets is registered in all 50 states including those requiring a broker-dealer to issue Reg A+ securities.
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