Elio Motors Seeks to Raise $100 Million

Elio Motors, Inc. (OTC QX:ELIO), a startup vehicle manufacturer planning to launch a three-wheeled vehicle, with a targeted base price of $7,450, that will deliver up to 84 mpg, has announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed public offering of its common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. Elio Motors intends to list its common stock on the NASDAQ Global Market under the ticker symbol “ELIO.”

About Elio Motors

Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a new approach to manufacturing an ultra-high-mileage vehicle. The three-wheel Elio is engineered to attain a highway mileage rating of up to 84 mpg, while providing the comfort of amenities such as power windows, power door lock, air conditioning and cruise control, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio’s first manufacturing site will be in Shreveport, Louisiana.

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