Arcimoto INC

Arcimoto, Inc. has received notice from Nasdaq that its common stock is subject to delisting due to non-compliance with several listing rules, including minimum market value requirements.

Arcimoto exchanged 2,777,779 warrants for 2,083,334 pre-funded warrants in a transaction that closed on April 4, 2024.

Arcimoto filed an amended 8-K to correct a scriveners error regarding the number of shares issued in a warrant exchange, clarifying that 1,713,669 shares of common stock were issued.

Arcimoto exchanged 6,180,558 warrants for 2,958,588 shares of common stock and 2,921,749 pre-funded warrants on April 2, 2024.

Arcimoto has received a notice from Nasdaq for failing to maintain the minimum stockholders' equity requirement of $10 million, placing its listing status at risk.

Arcimoto has entered into an exclusive contract manufacturing agreement with Ellectramobilys to produce Muses GEN1 300 light electric utility vehicles.

Arcimoto's Q3 2023 results reveal a revenue decrease alongside significant cost reductions as the company navigates financial challenges.