Published on July 2nd, 2017 | by Nicolas Zart0
Arcimoto SRK IPO Reveals Expected Average Price
July 2nd, 2017 by Nicolas Zart
The Arcimoto team, based out of Eugene, Oregon, did a great job with its electric three-wheeler, the SRK. I think an electric three-wheel platform, otherwise known as RT3, is one of the most ideal solutions to urban mobility, allowing for fast and convenient hops throughout the city. And the Arcimoto SRK certainly looks like it would be fun to own, whether I lived in a city, the countryside, or the desert. I briefly test drove an early version of the SRK at the Los Angeles Auto Show and was immediately impressed.
The Three-Wheel Arcimoto IPO, A Tad Under
Although the three-wheel Arcimoto SRK has slipped by its estimated production date, the company finally announced that its much anticipated IPO filing (under the normal SEC Regulation A) is going ahead. However, the IPO hasn’t been received with as much enthusiasm as was previously hoped for.
That is not necessarily a bad sign for the company. It might simply reflect the nature of our constantly fluctuating economic global machine, or a lull in the year. Nonetheless, Arcimoto is looking into securing $9.3 million to finalize and start production of its electric SRK, but is also using a modern twist for its IPO.
Arcimoto is making use of the JOBS Act that was passed in 2012, which expands entrepreneurs’ access to greater capital via the crowd. Arcimoto took advantage of a piece of this landmark legislation that went into effect June 2015 for good use. This new and simplified system has helped it to quickly go public and forgo certain lengthy processes.
Another added benefit to this strategy is that Regulation A allows companies to offer their shares to the general public, not just accredited investors, something Arcimoto will surely take advantage of soon enough.
Arcimoto By The Numbers
The Arcimoto SRK will be available with a range of either 70 or 130 miles, which is plenty for local electric vehicles (EV). Its top speed in both cases will be 80 mph, with a zero to 60 mph in 7.5 seconds. enough to get on highways and not feel overwhelmed or get yourself into road trouble.
The Arcimoto SRK weighs in at 1,023 lbs, using 25 kW powering its 67 HP electric motor powered by a Li-ion battery pack. The SRK has regenerative braking and hydraulics and requires seat belts. It also a sports 3+2 dual harness.
According to Arcimoto, the price of the entry-level SRK should be about $11,900. However, the IPO details give a stronger indication of the EV’s expected selling price. According to the filings, the average price of the first version of the SRK will be $15,000 and its cost around $10,500.
You can read the full details of the Arcimoto IPO in this PDF document.
Arcimoto IPO & SRK Final Thoughts
As I mentioned earlier, I tested a version of the SRK at the Los Angeles Auto Show in 2013, or 2014. It surprised me from the get-go in the same way test driving a really good quad makes you feel. It felt right, well design, well engineered, and certainly ready for adventure.
The driving position was comfortable once you got in. Looking at it made me think it wouldn’t be. On the contrary, it was comfortable and felt ready for action. It sported frank acceleration and handling that was also particularly.
Here are some of the personal reasons I like it and would consider it in my collection: It can be configured as an open seater. It can sport various body shapes and doors. It obviously has a rollbar and a security cage. It has a decent and serious range, and depending on where you live, it can be a closed car in poor weather and open in summertime or other warm-weather times.
While we wait for Arcimoto to officially produce and sell its SRK, you can follow the company on its social media channels on Facebook, LinkedIn, YouTube, Twitter, Instagram, and/or Pinterest. Hopefully we’ll find out the release date soon.
It’s good to see that the Arcimoto IPO is going ahead. When we first saw it, it was difficult figuring out if the company would survive. The idea was good, but we’ve seen more than our fair share of great ideas and forgotten-by-the-wayside companies that seemed to have terrific products. Although Arcimoto’s IPO is below the initial price point originally hoped for, that can be a good thing for EVs and overall market health, as well as the Arcimoto SRK, if it shows to be a flub in investor appetite before too long. After all, look at how meager Tesla’s IPO price was.
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