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A Brief History Of The Elio’s Public Funding Efforts

Discussion in 'General Elio Discussion' started by TexasTesla, Mar 13, 2019.

  1. TexasTesla

    TexasTesla Elio Addict

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    Here’s a brief history of Elio public fund raising efforts...

    In 2015 Elio Motors hit the public crowdfunding radar when it became the first issuer ever to utilize the Reg A+ exemption to raise growth funding and then quickly trade on OTC Markets.

    The offering, listed on StartEngine, raised about $17 million backed by over 6300 investors who purchased equity in Elio Motors at an IPO price of $12 a share.

    Today, Elio stock trades at around $2.50.

    In August 2017, Paul attempted to do another round of public funding.

    Paul publicly announced that Elio Motors had filed a registration statement Form S-1 with the SEC relating to a proposed public offering of its common stock. The plan was to raise more money and jump over to the NASDAQ Global Market.

    After approximately 12 months of no news regarding the NASDAQ plan, the proposed public offering was abruptly withdrawn.

    In Setember 2018, Paul announced
    plans to raise up to $25 million by offering a digital token. This STO token was called “ElioCoin”.

    Paul indicated that the initial sale of “ElioCoin” was limited to certain institutional and accredited investors pursuant to Reg D (506c).

    Paul triumphantly referred to ElioCoin as a “Watershed moment for his company!”

    Elio said that JonesTrading Institutional Services LLC was acting as the placement agent for the ElioCoin pre-sale which was to ongoing through October 15th, 2018.

    Units in the pre-sale of ElioCoin STO tokens were being offered as Series E preferred equity convertible at $10 per share.

    Following the pre-sale, Elio had planned to launch a broadly marketed sale of ElioCoin’s to the general public on Patrick Byrne’s tZERO digital STO token trading platform.

    Currently, there has been no further news or clarification regarding the status of the ElioCoin pre-sale othering than the announcement that the tZERO trading platform is experiencing funding issues of it’s own.

    ElioCoin appears to be no different than Elio’s failed NASDAQ stock listing.
     
    Last edited: Mar 13, 2019
  2. Ty

    Ty Elio Addict

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  3. RSchneider

    RSchneider Elio Addict

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    He raised money before the reservations and reg A+ (looking for $15K investors). That was such a long time ago, I don't think anyone cares anymore.
     
  4. Ace

    Ace Elio Enthusiast

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    What is the point in this thread?
     
  5. 84mpg

    84mpg Elio Addict

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    That’s a very good question.
     
  6. W. WIllie

    W. WIllie Elio Addict

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    The OP is just trying to "GET US DOWN".
     

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