Reg A+ Issuer Adomani Trades Higher Following Mini-IPO Crowdfunding Offer
Last week there were two companies that raised money crowdfunding under Reg A+ and soon followed by trading on a public exchange. Myomo (NYSE:MYO), raised capital on Banq, and then listed on NYSE MKT. The shares have since traded to a high of about $23 / share – a significant increase over the Reg A+ offer. While the shares are quite that high today they still trade higher than their “mini-IPO” offer.
Myomo’s listed was soon followed by Adomani (NASDAQ:ADOM), a company that raised money on FlashFunders and then listed on NASDAQ. Today, those shares are trading higher too. Adomani sold shares under Reg A+ at $5/share. As of this moment, they have doubled.
Adomani is a company that provides renewable energy conversion kits for fleet vehicles. On the first day Adomoni traded, CEO Jim Reynolds stated;
“This capital raise is a milestone achievement that will allow us to grow quickly and take first-mover advantage at a transformative time in the market, while allowing our new and existing investors to share in the exciting road ahead.”
Both companies appear to have benefited to following up the listing of shares with some news. Adomani announced yesterday it has taken delivery of its first All-Electric Type-D School Bus. The 72-passenger bus uses an electric drivetrain and battery technologies that meets certain California and federal requirements. These requirements must be satisfied in order to refer to the vehicle as “zero-emissions” which opens up grant and incentive funding opportunities.
While a few days trading does not make a demonstrative trend it does give early investors a good choice as to whether to get or stay in. For both Adomani and Myomo it now comes down to execution of their business plans.
ADOMANI, Inc. is a provider of zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI® is also a provider of new zero-emission electric and hybrid vehicles focused on reducing the total cost of vehicle ownership and helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. For more information, visit www.ADOMANIelectric.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in ADOMANI’s reports filed with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “planned,” “expects,” “believes,” “strategy,” “opportunity,” “anticipates,” “outlook,” “designed,” and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI® undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
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