Atlis Motor Autos, Inc. Broadcasts Closing of $13.0 Million Public Providing

MESA, Ariz., Feb. 21, 2023 (GLOBE NEWSWIRE) — Atlis Motor Autos, Inc. (NASDAQ: AMV) (“Atlis” or the “Firm”), a vertically built-in electrical car know-how ecosystem firm, and the primary battery cell producer to be totally owned and operated within the US, as we speak introduced the closing of its public providing of 8,334,000 models, with every unit consisting of 1 share of Class A standard inventory (or one pre-funded warrant to buy one share of Class A standard inventory in lieu thereof), 0.65 Sequence A Warrants to buy 0.65 shares of Class A Frequent Inventory, and 0.75 Sequence B Warrants to Buy 0.75 Shares of Class A Frequent Inventory. Every unit was offered at a public providing value of $1.56.

Gross proceeds, earlier than deducting placement agent charges and different providing bills, had been roughly $13.0 million.

Maxim Group LLC acted as the only real placement agent in reference to this providing.

The securities described above had been supplied pursuant to a registration assertion on Type S-1, as amended (File No. 333-269715) (the “Registration Assertion”), which was declared efficient by the Securities and Alternate Fee (the “SEC”) on February 14, 2023. The providing was made solely via a prospectus which is part of the Registration Assertion. A last prospectus regarding the providing has been filed with the SEC, and copies of the ultimate prospectus could also be obtained from Maxim Group LLC, 300 Park Avenue, sixteenth Ground, New York, NY 10022, at (212) 895-3745.

This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase any of the securities described herein, nor shall there be any sale of those securities in any state or different jurisdiction by which such supply, solicitation or sale could be illegal previous to the registration or qualification below the securities legal guidelines of any such state or different jurisdiction.

About Atlis Motor Autos, Inc.

Atlis Motor Autos is a vertically built-in EV know-how ecosystem firm leveraging its mental properties and U.S.-manufactured battery improvements to assist e-Mobility and vitality storage options.

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The Atlis Ecosystem will include business main Battery Cell and Pack applied sciences, Grid Degree Power Storage Options, Charging Infrastructure, Platform and Medium-Responsibility Electrical Mobility Options, and Over-Air Cloud Administration – all wrapped in Atlis Motor Autos’ seamless subscription-based fashions. For extra data, go to www.atlismotorvehicles.com.

Ahead-Trying Secure Harbor Assertion

This communication contains “forward-looking statements” throughout the that means of the “secure harbor” provisions of america Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements could also be recognized by way of phrases similar to “estimate,” “plan,” “undertaking,” “forecast,” “intend,” “will,” “shall,” “count on,” “anticipate,” “imagine,” “search,” “goal,” “proceed,” “might,” “might,” “may,” “doable,” “potential,” “predict” or different comparable expressions that predict or point out future occasions or tendencies or that aren’t statements of historic issues. These forward-looking statements embody, however should not restricted to, statements relating to the providing, sale of securities, our skill to finish the providing and our supposed use of proceeds. These statements are primarily based on varied assumptions, whether or not or not recognized on this communication, and on the present expectations of administration. These forward-looking statements should not supposed to function, and should not be relied on by any investor as, a assure, an assurance, or a definitive assertion of truth or likelihood. Precise occasions and circumstances are tough or unattainable to foretell and should differ from these forward-looking statements. Many precise occasions and circumstances are past the management of Atlis and Atlis administration. These forward-looking statements are topic to quite a few dangers and uncertainties, together with the entire threat elements acknowledged below the heading “Threat Components” in Registration Assertion, in addition to different paperwork Atlis has filed or will file with the Securities and Alternate Fee. If any of those dangers materialize or Atlis’s assumptions show incorrect, precise outcomes might differ materially from the outcomes implied by these forward-looking statements. There could also be extra dangers of which Atlis doesn’t at present know or that Atlis at present believes are immaterial that would additionally trigger precise outcomes to vary from these contained within the forward-looking statements. As well as, forward-looking statements replicate Atlis’s expectations, plans or forecasts of future occasions and views as of the date of this communication. Atlis anticipates that subsequent occasions and developments will trigger Atlis’s assessments to vary. Nonetheless, whereas Atlis might elect to replace these forward-looking statements sooner or later sooner or later, Atlis particularly disclaims any obligation to take action. These forward-looking statements shouldn’t be relied upon as representing Atlis’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance shouldn’t be positioned upon the forward-looking statements.

Contacts:

Mary Trout
Atlis Motor Autos
[email protected]