Atlis Motors has revealed plans for an initial public offering (IPO) that investors will want to keep an eye on.
Let’s go over everything we know so far about the Atlis Motors IPO plans.
- Atlis Motors says that it intends to submit an S-1 format Form 1-A and Nasdaq Global Market application.
- This will allow the company to list its shares publicly.
- The company is aiming to use the AMV stock ticker on the Nasdaq Exchange.
- Atlis Motors says it expects this IPO to take place sometime this summer.
- But what exactly is Atlis Motors all about?
- The company is currently focused on the development of an electric vehicle (EV).
- This EV, a pickup truck, is designed to be used in the agriculture, service, utility and construction industries.
- Atlis Motors argues that current EV trucks don’t match up to their diesel-powered counterparts.
- It intends for its pickup truck to be a true equal to internal combustion engine (ICE) trucks.
- This also has it developing its own battery that will be used in the electric pickup truck.
- It plans for this to result in proprietary battery technology, electric motors and a modular system architecture.
- This will allow for it to make a high-capacity, high-output, fast-charging work truck.
Mark Hanchett, founder and CEO of Atlis Motors, said this in the IPO press release.
“By going public, we will unlock the capital needed to succeed. This new funding will allow us to continue to scale operations to produce state-of-the-art batteries, platforms and pickups needed to advance the work truck market.”
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.