ADOMANI Announces Subscriptions in Excess of Required Minimum for its Regulation A+ Offering
May 01 2017 - 5:54PM
ADOMANI, Inc. (NASDAQ:ADOM), (“ADOM,” “the Company,” “we” or “us”),
a provider of advanced zero-emission electric and hybrid vehicles
and replacement drivetrains, today announced it has received
in escrow subscriptions totaling in excess of the $10.6
million minimum amount for its Regulation A+ Tier 2 offering
(the “Offering”). The Offering is for a total of up to $25
million, including up to $3 million from certain of the Company’s
stockholders. We erroneously reported in a press release
dated April 25, 2017 that $22 million had to be raised in order for
certain of our stockholders to participate in the Offering.
“We continue to be excited about the launch of our offering and
the fact that we have exceeded the minimum amount required,” said
President and CEO Jim Reynolds of ADOMANI, Inc. “We look forward to
its successful completion soon, which will enable us to
aggressively execute our business plan.
The Company is offering a minimum of 2,120,000 common shares and
a maximum of 4,400,000 common shares at an offering price of $5.00
per share. Any interested parties should read the
Company’s Offering Statement on Form 1-A, including the financial
statements and risk factors, and other reports the Company may file
with the SEC, and after having done so, should contact the Company
for more information.
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.
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.
Contact Information
Media and Investor relations Contact:
Michael K. Menerey, Chief Financial Officer
Telephone: (626)483-3280
Email: mike.m@ADOMANIelectric.com
Kevin Kanning, VP Investor Relations
Telephone: (650) 533-7629
Email: kevin.k@ADOMANIelectric.com