ADOMANI Announces Final Closing of its Regulation A Offering
June 09 2017 - 4:50PM
ADOMANI, Inc. (NASDAQ:ADOM), (“the Company,” “we” or “us”), a
provider of advanced zero-emission electric and hybrid vehicles and
replacement drivetrains, today announced it has held the final
closing of its Regulation A Tier 2 offering (the “Offering”). The
Company raised $14.261 million for 2,852,275 million shares. The
Offering included the sale of 342,273 shares by certain Company
stockholders. The Company expects the stock will begin
trading on the NASDAQ Capital Market under the ADOM ticker symbol
on or about June 14, 2017.
“This is truly a milestone in ADOMANI’s quest to deliver our
products and technology to the market,” said President and CEO Jim
Reynolds of ADOMANI, Inc. “The net proceeds to us from this
offering allows us to begin to execute our business plan, and to
pursue opportunities to accelerate our growth. We are very thankful
to our investors for having the confidence in us to enable us to do
that.”
About the Company
ADOM is a provider of zero-emission electric and hybrid vehicles
and replacement drivetrains that is focused on reducing the total
cost of vehicle ownership. ADOM helps fleet operators unlock the
benefits of green technology and address the challenges of
traditional fuel price instability and local, state and federal
environmental regulatory compliance. ADOM designs, manufactures and
installs advanced zero-emission electric and hybrid drivetrain
systems for use in new school buses and medium to heavy-duty
commercial fleet vehicles. ADOM also designs, manufactures and
installs unique and patented conversion kits to replace
conventional drivetrain systems for diesel and gasoline powered
vehicles, including buses, with zero-emission electric or hybrid
drivetrain systems. In addition to benefitting our shareholders, we
will also help improve the environment, and more importantly,
improve the health of school children and citizens who live and
work in and around traditional diesel and gasoline-fueled
vehicles.
Contact Information
Media and Investor relations Contact:
Michael K. Menerey, Chief Financial OfficerTelephone:
(626)483-3280Email: mike.m@ADOMANIelectric.com
Kevin Kanning, VP Investor RelationsTelephone: (650)
533-7629Email: kevin.k@ADOMANIelectric.com
ADOM’s address is 620 Newport Center Drive, Suite 1100, Newport
Beach, CA 92660, and ADOM’s telephone number is (949) 200-4613. The
ADOM corporate website address is www.ADOMANIelectric.com.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities of the Company,
including without limitation the common stock. Any such offer is
made exclusively through the Company’s Offering Circular
dated April 28, 2017, as the same may be amended or supplemented
(the “Final Offering Circular”). The Final Offering Circular is
available at www.flashfunders.com,
https://www.sec.gov/cgi-bin/browse-edgar?company=adomani%2C+inc.&owner=exclude&action=getcompany,
or may be obtained from Boustead Securities at (949) 502-4409 or
angela@bousted1828.com.
Safe Harbor Statement
The company has made statements in this press release that are
considered “forward-looking statements” which are usually
identified by the use of words such as “anticipates,” “believes,”
“estimates,” “expects,” “intends,” “may,” “plans,” “projects,”
“seeks,” “should,” “will,” and variations of such words or similar
expressions. These forward-looking statements reflect our current
views about our plans, intentions, expectations, strategies and
prospects, which are based on the information currently available
to us and on assumptions we have made. Although we believe that our
plans, intentions, expectations, strategies and prospects as
reflected in or suggested by those forward-looking statements are
reasonable, we can give no assurance that the plans, intentions,
expectations or strategies will be attained or achieved.
Furthermore, actual results may differ materially from those
described in the forward-looking statements and will be affected by
a variety of risks and factors that are beyond our control. For
further discussion of the factors that could affect outcomes,
please refer to the risk factors set forth in the “Risk Factors”
section of the Final Offering Circular. We assume no obligation to
update publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.