Business
Elio Motors' Shares Launch on OTCQX: Start-up Vehicle Manufacturer Raised Nearly $17 Million Through Regulation A+; OTCQX Trading Provides Investors Liquidity
Elio Motors' Shares Launch on OTCQX: Start-up Vehicle Manufacturer Raised Nearly $17 Million Through Regulation A+; OTCQX Trading Provides Investors Liquidity.
About this update from Elio Motors Inc
[{"type":"text","content":"\n\n\n\nElio Motors' Shares Launch on OTCQX: Start-up Vehicle Manufacturer Raised Nearly $17 Million Through Regulation A+; OTCQX Trading Provides Investors Liquidity\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' Shares Launch on OTCQX: Start-up Vehicle Manufacturer Raised Nearly $17 Million Through Regulation A+; OTCQX Trading Provides Investors Liquidity\nStock offering one of several mission-critical steps forward in the past three months for startup vehicle manufacturer\nPR Newswire\nPHOENIX, Feb. 19, 2016\n\n\n\nPHOENIX, Feb. 19, 2016 /PRNewswire/ -- Elio Motors, Inc. (OTCQX: ELIO), the startup vehicle manufacturer planning to launch a three-wheeled vehicle that will get up to 84 MPG with a targeted base price of $6,800, today announced its shares are now trading on the OTCQX market under the stock symbol ELIO. \n\n\"This is a proud day for Elio Motors and an important step forward in our development and mission to bring low-cost, highly fuel-efficient transportation to the market,\" said Paul Elio, founder and CEO of Elio Motors. \"Funding is often a significant roadblock for bringing big ideas to the market. Regulation A+ allows entrepreneurs a quicker and more-efficient method for raising capital. Now, with those shares trading on the OTCQX, investors have the opportunity to buy into the Elio Motors mission and vision to positively impact the world.\" \n\nElio Motors is the first company to have its shares traded publicly on the OTCQX after going through the entire Regulation A+ process. In March 2015, the Securities and Exchange Commission (SEC) finalized amendments to Regulation A under Title IV of the 2012 Jump Start Our Business Start-up (JOBS) Act, paving the way for private companies to raise up to $50 million from non-accredited investors.  Elio Motors was one of the first companies to launch a formal stock offering utilizing Regulation A+ on Nov. 20 , 2015, after receiving qualification from the SEC. The company closed the Regulation A+ offering on Feb. 16, having raised nearly $17 million and began the transition to the OTCQX mar...