Arcimoto Announced Intention To Sell Our U.S. Manufacturing Facility Contingent On A Lease Agreement; Capital From Sale Coupled With Recent Raise Of $4.2M, Will Be Used To Extend Runway, Allow Us To Continue Working Towards Our Goals
Portfolio Pulse from Benzinga Newsdesk
Arcimoto has announced its intention to sell its U.S. manufacturing facility, contingent on a lease agreement. The capital from the sale, along with a recent raise of $4.2M, will be used to extend the company's runway and allow it to continue working towards its goals.
August 24, 2023 | 6:42 pm
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Arcimoto's decision to sell its manufacturing facility could potentially free up capital, allowing the company to continue its operations and work towards its goals.
The sale of the manufacturing facility could provide Arcimoto with the necessary capital to continue its operations. However, it's contingent on a lease agreement, which could introduce some uncertainty. The impact on the stock price is neutral in the short term as the benefits of the sale could be offset by the potential risks associated with the lease agreement.
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