![]() The Company leverages a continent-wide dealer network and close relationships with world-class manufacturing partners to supply its market-leading flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is a leading North American supplier of electric vehicles for both public and commercial enterprise use. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. ![]() No securities regulatory authority has either approved or disapproved of the contents of this press release. Copies of the Prospectus Supplement and accompanying Base Shelf Prospectus may be obtained by contacting Spartan Capital by phone at (212) 293-0123, or by emailing The Prospectus Supplement and the Registration Statement are also available on the SEC's website and the Prospectus Supplement (together with the related Base Shelf Prospectus) is available on the SEDAR website maintained by the Canadian Securities Administrators. registration statement on Form F-10 dated Aug(the "Registration Statement") and Canadian short form base shelf prospectus (the "Base Shelf Prospectus") dated April 19, 2021. The Offering is being made by way of a prospectus supplement dated Octo(the "Prospectus Supplement"), to the Company's existing U.S. The Offering is expected to close on or about October 25, 2021, subject to the satisfaction of customary closing conditions. Spartan Capital will receive underwriting commissions equal to 7% of the gross proceeds raised in the Offering, which will be equal to approximately US$1.19 million. Vicinity Motor intends to use the net proceeds from the Offering for the US$12 million portion of the license fee payable to Optimal-EV, with the remaining net proceeds to be used for general corporate purposes, including new product development and certifications, new product demonstration models, expansion of production capacity and general working capital. The Warrants will be exercisable immediately upon issuance (the "Issuance Date") and will expire three years from the Issuance Date. Each Warrant will entitle the holder to purchase one Common Share (a "Warrant Share") at an exercise price of US$5.10, subject to adjustment in certain circumstances. Revere Securities LLC is the exclusive selling group member for the Offering.Įach Unit consists of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Spartan Capital Securities, LLC ("Spartan Capital") is acting as sole book-running manager for the Offering. (TSXV:VMC) (NASDAQ:VEV) (FRA:6LGA) ("Vicinity Motor" or the "Company"), a leading North American supplier of commercial electric vehicles, today announced an underwritten public offering (the "Offering") of 3,990,610 units of the Company (the "Units") at a price of US$4.26 per Unit for gross proceeds to the Company of approximately US$17 million. ![]() All Rights Reserved.VANCOUVER, BC / ACCESSWIRE / Octo/ Vicinity Motor Corp. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. ![]() Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. ![]()
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