UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 1, 2022
ARCIMOTO, INC.
(Exact name of registrant as specified in its charter)
Oregon
(State or other jurisdiction of incorporation)
| 001-38213 | 26-1449404 | |
| (Commission | (IRS Employer | |
| File Number) | Identification No.) |
2034 West 2nd Avenue, Eugene, OR 97402
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (541) 683-6293
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||
| Common stock, no par value | FUV | Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On November 1, 2022, Arcimoto, Inc. (the “Company”) distributed a newsletter that provided a general update on the Company. A copy of the newsletter is attached and incorporated herein by reference.
Caution With Respect To Forward-looking Statements:
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict and include, without limitation, our expectations as to product deliveries, the establishment of our service and delivery network and our expected rate of production. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; changes in consumer demand for, and acceptance of, our products: changes in the competitive environment, including adoption of technologies and products that compete with our products; the overall strength and stability of general economic conditions and of the automotive industry more specifically; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that we file with the SEC. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation to update any forward-looking statements.
Item 9.01. Exhibits.
(d)
| Exhibit No. | Description | |
| 99.1 | Newsletter Dated November 1, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARCIMOTO, INC. | ||
| Date: November 1, 2022 | By: | /s/ Jesse Fittipaldi |
| Jesse Fittipaldi | ||
| Interim Chief Executive Officer | ||
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Newsletter Dated November 1, 2022 |
Exhibit 99.1
Arcimoto Q4 Update: Our Best Quarter Yet!
The fourth quarter is in full swing here at Arcimoto, and we’ve got great news. It’s only the first of November and we are already on track for our best sales quarter in company history. With sky-high gas prices, combined with a record number of demo drives this year, the word is getting out on the FUV, which is simply one of the most fun and affordable EVs on the road today. We couldn’t be more excited as we look ahead to 2023. But first, let’s break down all the latest news.
The Deliverator Named Overall EV of the Year!
It delivers! Our favorite vehicle for local and last mile delivery, the Deliverator, has been named 2022 Overall Electric Vehicle of the Year in the annual AutoTech Breakthrough Awards. The awards program recognizes the top companies, technologies and products in the global automotive and transportation technology markets. Thank you AutoTech, we couldn’t be prouder!
We Need Your Votes!
Two votes, actually.
First, our friends at Micromobility have started a very cool new awards program, the 1st Annual Rider’s Choice Awards that celebrates innovative companies in the fastest-growing mobility ecosystem in the world. Arcimoto has been nominated under the category of Best Pod Company, and while we’re not quite sure what a pod is, we’re pretty certain we’ve got the best one. To cast your vote for Arcimoto, just CLICK HERE.
Second, if you are a shareholder, please ensure you vote before our November 11 special meeting. Check your email inbox on or around October 28 for online voting instructions. We can also accept inbound TeleVotes, toll-free, at (877-507-1756). You can review the Proxy directly from the SEC website.
Third Quarter Financial Results
Q3 was also a record-setting quarter for Arcimoto with 150 vehicles produced and 74 customer vehicles delivered, representing an approximately 80 percent increase in customer vehicles delivered compared to Q2. Please note that these are unaudited numbers and are subject to change. We'll have the official numbers when we release our third quarter financial results on Monday, November 14. Next week we’ll share login information for our investor webcast with the Management Team, currently scheduled for 2:00 p.m. PDT (5:00 p.m. EDT) on that day. We hope you will join us as we have more good news to share.
Upcoming Events and Demo Drives
On the marketing front, our goal continues to be to get as many butts in seats as possible as the first drive in an FUV is an unforgettable experience that also happens to be our biggest sales driver. To that end, we are organizing personalized demo drive appointments in California and Florida in the coming weeks. In the coming days, check your inbox for the opportunity to book a demo drive appointment. In California, we’ll be stopping at Corte Madera, Walnut Creek, San Jose, Santa Barbara, and Los Angeles. In Florida, we’ll be visiting Miami, Palm Beach, Orlando, and the Villages. Appointments are first come, first serve basis, so sign up fast!
Also, we’ll be attending CoMotion LA 2022 on November 15-17 in Los Angeles, meeting with key public and private stakeholders shaping the future of mobility. This is a great opportunity to connect with global mayors, policymakers, leading technologists, and public transport operators as we explore the changing landscape of mobility. Spoiler alert: things are changing fast! You can learn more at CoMotionLA.com.
Design Studio Upgrades
We recently relaunched the Arcimoto Design Studio, with a number of new improvements, including new limited edition, seasonal vinyl wraps that add even more fun to the FUV. Now, we’ve added the ability to save and share your designs with your friend. We’ve also added a finance calculator so you can instantly check your estimated monthly payment as you design your FUV. Head over to Design.arcimoto.com to begin building your FUV today.
Don’t forget that through the month of November, our finance partner FreedomRoad Financial will be offering a special 1.99% APR* financing for 36 months to qualified customers. Head over to Arcimoto.com/finance for a list of all our financing partners.
Driverless Technology Updates
Check out friends over at Faction who are paving the way for driverless mobility. Faction CEO Ain McKendrick recently penned an insightful post on the differences between driverless technologies and autonomous technologies. We’re big believers in the driverless future and vehicles that are smarter for the city, rightsized for your drive, and affordable for the planet.
Faction and GoCar Tours are also teaming up for driverless tourism rentals in Las Vegas. The idea is, simply, brilliant: instead of driving to a rental shop, you simply order your vehicle, which arrives at your hotel driverlessly. Then you hop in and take control and get to enjoy GoCar’s award-winning GPS-guided audio tours. Pilot trials are expected to start in 2023. The future is fun!
Thank you for supporting Arcimoto and clean transportation. Until next time, we’ll see you on the road.
Sincerely,
Team Arcimoto