ATLIS takes an innovative approach to fund the continued development of its electric XP Platform, XT Pickup Truck, and fast-charging battery technology.
FREMONT, CA: Electric vehicle technology startup ATLIS Motor Vehicles obtains SEC qualification of its Regulation A + offering statement, paving the way for a $25 million public offering. ATLIS has opened the offering to the public at $8.24/share.
ATLIS was started to build a better work truck. The firm is building trucks for workers, funded by workers. Its potential customers have always provided it the direction and motivation for the product, so it only makes sense for them to be shareholders in the company. ATLIS remains focused on execution, and the company won't settle for doing things the way it has always been done.
ATLIS prides itself on doing things differently. The company has maintained independence by being funded by equity crowdfunding primarily. This has enabled ATLIS to take a vertically integrated approach to create high-quality components in-house and develop and secure its proprietary battery technology. The Arizona-based company is making the XT Pickup Truck out-perform gas and diesel-powered pickup trucks in cost, range, and towing capacity.
The first law from the JOBS Act, known as Regulation A+ or Reg A, went into effect on June 19, 2015. With Reg A, firms can raise money by selling equity shares to the general public without committing to formal registration and an initial public offering. Companies file a Form 1-A offering statement and offer circular and address SEC comments to accept investment until it receives SEC qualification. Once they receive the capability, firms are subject to ongoing reporting requirements, including annual reports, semi-annual reports, and event reports.
ATLIS Motor Vehicles is creating an electric vehicle technology platform for heavy and light duty work trucks to seamless fleet ownership. ATLIS's subscription ownership model offers fleet owners predictable monthly payments with a lower total cost of ownership than traditional work. Subscribers will experience freedom from fluctuating gas prices and confidence that they'll always have the vehicles they want when they need them. To meet the towing and payload capabilities of legacy diesel-powered vehicles, ATLIS is developing proprietary battery technology and a modular system architecture potent of scaling to meet the specific vehicle needs. ATLIS's goal includes improving the charging ecosystem by developing technology to charge ATLIS vehicles within 15 minutes.