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Elio Motors CEO to SEC Panel: Regulation A+ Can Help Bring Wall Street Back to Its Roots
Elio Motors CEO to SEC Panel: Regulation A+ Can Help Bring Wall Street Back to Its Roots.
About this update from Elio Motors Inc
[{"type":"text","content":"\n\n\n\nElio Motors CEO to SEC Panel: Regulation A+ Can Help Bring Wall Street Back to Its Roots\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 to SEC Panel: Regulation A+ Can Help Bring Wall Street Back to Its Roots\nCrowdfunding Investment Policy Helps Companies Find Needed Capital, Provides Greater Opportunity for Small Investors\nPR Newswire\nWASHINGTON, July 20, 2016\n\n\n\nWASHINGTON, July 20, 2016 /PRNewswire/ -- Regulation A+ (Reg A+) is an important strategy for companies to raise capital at critical junctures of their growth, according to Paul Elio, founder and CEO of startup vehicle manufacturer Elio Motors, Inc. (OTCQX: ELIO), which plans to build a $6,800, three-wheeled vehicle in the U.S. capable to achieving up to 84 mpg.\n\n\nElio made his remarks yesterday in a presentation to the Securities and Exchange Commission (SEC) Advisory Committee on Small and Emerging Companies (ACSEC). As part of the ACSEC program, the SEC Division of Corporate Finance also delivered an update on the utilization of Reg A+. \n\nReg A+ is an initiative made possible under Title IV of the 2012 Jumpstart our Business Startup (JOBS) Act, which paved the way for private companies to raise up to $50 million from non-accredited investors.\n\n\"The point of the equity markets has gotten lost. In the 1700s, when people were trading securities underneath a tree at the corner of Broad and Wall [Streets], the equity markets were a place for companies to raise capital, not a place for venture capitalists and private equity firms to cash out their winnings,\" Elio said. \"I think Reg A+ has a chance to bring it back to its roots, where equity is about a place for companies to find capital – to start and to expand.\" \n\nElio Motors is using a portion of the nearly $17 million it raised in a public offering through Reg A+ to build 23 prototypes for use in testing and validation. Elio said the funding raised in the Reg A+ process was critically important in helping the company get to this development stage. Elio introduced the company's first E-Series test vehicle &...