Business
Elio Motors Engages Oppenheimer & Company for Investment Banking Services
Elio Motors Engages Oppenheimer & Company for Investment Banking Services.
About this update from Elio Motors Inc
[{"type":"text","content":"\n\n\n\nElio Motors Engages Oppenheimer & Company for Investment Banking Services\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 Engages Oppenheimer & Company for Investment Banking Services\nPR Newswire\nPHOENIX, Oct. 26, 2016\n\n\n\nPHOENIX, Oct. 26, 2016 /PRNewswire/ -- Elio Motors, Inc. (OTCQX: ELIO), the startup vehicle manufacturer planning to launch a three-wheel vehicle that will get up to 84 mpg with a set base price of $7,300*, disclosed today that it engaged Oppenheimer & Co. Inc. and Northland Capital Markets for investment banking services, including strategic advisory, financing and capital markets strategies.\n\n\n\"Elio Motors continues to achieve important milestones in our engineering and fundraising efforts as we move closer to our commercial production goal,\" said Paul Elio, founder and CEO of Elio Motors. \"In every facet of our operations, we've assembled blue-chip suppliers, partners and employees, and both Oppenheimer and Northland are great additions to that team. Oppenheimer is a proven leader in emerging growth business financing, and its 130-year history and highly respected expertise will help us meet our financial goals.\" \n\nElio Motors has consistently stated the importance of raising additional capital to reach its production goal.  Since its inception, the company has successfully accomplished funding totaling approximately $96 million through angel funding, private placements and the most recent Regulation A+ crowd funding initiative and its subsequent public listing on the OTCQX. \n\n\"Throughout our history, we have been able to find a variety of funding opportunities to help us in our relentless quest to get to production,\" Elio said. \"We are now positioned to involve the expertise of Oppenheimer and Northland to continue the funding phase and expand on the momentum we continue to build.\"\n\nAmong the company's recent accomplishments:\n\n\nElio Motors raised nearly $17 million in a Regulation A+ stock sale. \nElio Motors stock began trading on the OTCQX market, making Elio Motors the first company t...