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Elio Crowdfunding

Ekh

Ekh

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Interesting. It's 21 hours later. We're up $20,000 to $44,578,650 but we're also up 20 investors to 11,493. So that's a much lower than average expression of interest, $1,000 per head. Weekend effect, probably. But I bet most of them are "real," at that level.
 
AriLea

AriLea

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They pretty well agree all rates are flattening out the last 5 days. Still given a few more days, maybe 180% at $45mil is reachable.
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slinches

slinches

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Has no one posted this update yet?
Elio Motors via Email said:
Hello slinches,

The i’s are dotted.

The t’s are crossed.

And, our application seeking authorization from the Securities and Exchange Commission (SEC) to make a formal stock offer is submitted.

It took a lot of work and late nights for our team to pull together the application. But, now we wait. And, as legendary rocker Tom Petty sang back in the early ‘80s, “The Waiting is the Hardest Part.”

The authorization from the SEC could come at any day and, as that day approaches, we wanted to remind you about some of the things that will happen once we get the green light.

Here’s a quick recap:

Link to our FAQs: https://www.startengine.com/startup/elio-motors#updates

Proposed Limited 7-Day Purchase Window

Upon receiving authorization from the SEC, we plan to create a seven-day window of opportunity to purchase stock for those who have reserved shares in Elio Motors via StartEngine.com. Should you desire to purchase shares, it will be very important for you to take advantage of this window of opportunity when it is presented.

We anticipate that some of those who have expressed interest may change their minds. However, there is a very real chance that we will receive purchase requests above our goal.

Current “Over-Demand” for Shares

As indicated on the Elio Motors StartEngine page, we are currently anticipating more demand than we have available stock to sell. Expressed interest is currently 178% over our goal, at more than $44.6 million. It is our goal to give all those who indicated interest an opportunity to purchase those shares before it is opened to the general public. As noted in our Preliminary Offering Circular, Elio Motors will have the ability to authorize up to $30 million in subscriptions, even though our current need as established by management is at $25 million. It is our intention to sell only $25 million of stock, but if management decides to make more shares available, we have the option to increase our subscriptions to meet the need.[1]

How We Will Handle an “Oversold” Situation

If we surpass our stock offering goal (whether it is $25 million or as much as $30 million) during the seven-day window, we will provide a pro-rated refund for a portion of any investment over the $600 minimum. This will attempt to ensure that all those who reserved non-binding expressions of interest prior to authorization are able to secure shares in Elio Motors.

Once we receive authorization, we’ll provide more detail on how the actual stock sale process will work. Keep checking your inbox for more updates.

The Elio Motors Team
Click to expand...

Link to 11/9/2015 filing on startengine.com
 
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