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Atlis Motor Vehicles shares to raise USD10 million from private investment firm

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By Luke Willetts - 5th December 2022

USA – Light-duty electric truck builder, Atlis Motor Vehicles of Mesa, Arizona, says it has raised USD10 million (up to USD9 million net after expenses) in funds through the sale of a financial instrument called a Promissory Note* to a private investment company, Maxim Group LLC. The funds, which are payable over the next two years, will be used by Atlis to continue executing its business plan, including funding planned capital expenditures and working capital.

Atlis added that this initial USD10.0 million tranche is part of a total anticipated USD30.0 million in private placement with institutional investors.

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