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Elio Motors CEO: Regulation A+ Brings Wall Street Back to Its Roots; Benefits Entrepreneurs and Investors, Boosts Economy
Elio Motors CEO: Regulation A+ Brings Wall Street Back to Its Roots; Benefits Entrepreneurs and Investors, Boosts Economy.
About this update from Elio Motors Inc
[{"type":"text","content":"\n\n\n\nElio Motors CEO: Regulation A+ Brings Wall Street Back to Its Roots; Benefits Entrepreneurs and Investors, Boosts Economy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nElio Motors CEO: Regulation A+ Brings Wall Street Back to Its Roots; Benefits Entrepreneurs and Investors, Boosts Economy\nPR Newswire\nNEW YORK, Feb. 25, 2016\n\n\n\n\n\n\n\n\nNEW YORK, Feb. 25, 2016 /PRNewswire/ -- When Elio Motors' (OTCQX: ELIO) shares began trading on the OTCQX® Best Market last week, the start-up vehicle manufacturer made history. It became the first US-based organization to raise capital using Regulation A+, and also the first to have its shares publicly traded. Nearly $17M in funding was raised on the StartEngine Crowdfunding platform, and those shares are now trading on the OTCQX market.\n\nAt a media briefing today, Elio Motors' Founder and CEO Paul Elio praised Regulation A+ as an innovative policy decision that will benefit entrepreneurs, investors and the economy.  \n\n\"Regulation A+ is how Wall Street was meant to work, \" Elio said. \"In Wall Street's early days, entrepreneurs with a vision to create something great went to the Street to raise money, launch their companies, create jobs and build our economy. Regulation A+ gets back to these roots of connecting entrepreneurs with investors and helping launch big ideas and building things of sustained value.\"\n\nIn March 2015, the United States Securities and Exchange Commission (SEC) finalized rules under Title IV of the 2012 Jumpstart Our Business Startups (JOBS) Act, that paved the way for private companies to raise up to $50 million from accredited and non-accredited investors alike. This ruling is known as \"Regulation A+.\" \n\nElio Motors is launching a three-wheeled vehicle that will get up to 84 MPG with a targeted base price of $6,800. The company has over 50,000 reservations for a place in line to purchase an Elio and is targeting a late 2016 production launch. The company recently raised nearly $17 million through a Regulation A+ stock offering on the StartEngine Crowdfunding platform. The...