LOS ANGELES – November 20, 2015 – StartEngine, the nation’s leading equity crowdfunding platform, revealed today that the United States Securities and Exchange Commission (SEC) has qualified a $25MM offering for equity shares of automotive startup Elio Motors, through a campaign hosted on StartEngine. American investors can now purchase equity shares in Elio Motors and participate in building a business they are passionate about. It is anticipated these shares will trade like conventional stocks.
“This is a major victory for investment equality, and may be the biggest financial breakthrough of this generation,” said StartEngine CEO Ron Miller. “With this momentous SEC qualification, the government is setting an example for how nonaccredited investors can pursue opportunities via the StartEngine platform, including investing in Elio Motors and the next wave of progressive companies.”
A StartEngine issuer from the outset, Elio Motors is among the first handful of companies to receive SEC qualification under the Regulation A+ rules. Since the June 2015 launch of Regulation A+, these new rules facilitate investment by nonaccredited individuals using a crowdfunding mechanism. Elio Motors founder Paul Elio seeks to challenge the status quo of personal transportation with an affordable, safe and environmentally friendly vehicle.
“Our goal is to alter the course of American transportation, and with today’s breakthrough, we are one step closer to this revolution, not just for drivers, but for anyone who believes that a good idea has the power to change the world,” said Elio Motors founder Paul Elio. “We’re thrilled to open our doors to thousands of new investors, and will utilize the capital as part of our plan to begin production in late 2016.”
Elio Motors is one of the first companies on the StartEngine.com platform to issue equity shares, with many more coming soon. Visit www.StartEngine.com to learn more about investing in equity shares of Elio Motors.
Visual assets for StartEngine and Elio Motors can be downloaded here.
About StartEngine Crowdfunding, Inc.
StartEngine is the premier equity crowdfunding platform, connecting Millennials and aspiring investors with tomorrow’s progressive companies. Based in Los Angeles, the company was created in 2013 by Howard Marks, co-founder of Activision, and Ron Miller. StartEngine aims to revolutionize the startup business model by helping all people invest in private companies on a public platform, now viable for the first time in history, thereby helping entrepreneurs achieve their dreams.
Learn more at http://www.startengine.com
Craig Sinel (fortyseven communications for StartEngine)