Atlis IPO: When is the EV startup debuting in the US?

May 05, 2022 01:14 PM PDT | By Rupam Roy
Follow us on Google News:

Highlights:

  • Atlis has announced plans to go public in the US.
  • The company is expected to list on the Nasdaq exchange.
  • Atlis may go public in the summer of this year.

EV startup Atlis Motor Vehicles plans to debut in the US stock market. On Wednesday, it submitted Form 1-A with the US Securities and Exchange Commission (SEC) for the purpose.

It is the latest EV company planning a stock market debut. Atlis makes heavy-duty electric trucks with towing and payload capabilities similar to diesel-powered vehicles.

These trucks could be helpful in the agricultural, construction, and utility sectors.

The company plans to trade its shares under the symbol "AMV" in the Nasdaq Global Market.

On Wednesday, the company said it plans to use the proceeds from the public offering to scale up its production. However, it has not revealed how much money it intends to raise in the IPO.

Also Read: What is Cardano (ADA) crypto and why is it gaining attention?

When is it going public?

Retail investors can trade the shares after it completes the public listing, possibly this summer.

Shares will also be offered through the company website. Investors can also check the IPO information and disclosures on the website.

The vehicle is named XT pickup truck. The company said it is "rugged, durable, and can perform in most extreme conditions". The truck's charging time is just 15 minutes, and it has a 500-mile range. It has 35,000 lbs towing capacity and has a subscription option for maintenance.

Also Read: Is TRON (TRX) crypto rising on USDD news?

Atlis Motor Vehicles IPO

Bottom line:

Atlis is developing new batteries, electric motors, and a modular system to boost capacity and output. The company claims it will be a fast-charging work truck to fulfil the customer demand.

The US IPO market has cooled down this year due to various macroeconomic factors. Companies like WeTransfer, Rhodium Enterprise, etc., have postponed their IPO plans. Nonetheless, firms like Reddit Inc, Mobileye, etc., are expected to debut in the coming months.

Also Read: IGT, CHDN to MGM: Top sports betting stocks to watch in Q2

The EV sector has made significant gains in recent years, driven by the demand for clean energy vehicles. With the success of Tesla Inc, various new players have also joined the competition. Last year, Rivian IPO was one of the biggest public offers in the EV segment.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.



Top Listed Companies