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): January 26, 2021
BEAM GLOBAL
(Exact Name of Registrant as Specified in Charter)
| Nevada | 000-53204 | 26-1342810 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 5660 Eastgate Drive, San Diego, CA | 92121 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (858) 799-4583
___________________________________________________
(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 (see General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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 o
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. o
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 | BEEM | NASDAQ Capital Market | ||
| Warrants | BEEMW | NASDAQ Capital Market | ||
| Item 2.02. | Results of Operations and Financial Condition. |
On January 26, 2021, Beam Global (the “Company”) issued a press release announcing information regarding product deliveries for the fourth fiscal quarter ended December 31, 2020. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information furnished in this Form 8-K and the press release attached as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the press release attached as Exhibit 99.1 shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit Number |
Description | |
| 99.1 | Press Release dated January 26, 2021 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BEAM GLOBAL | ||
| Dated: January 26, 2021 | By: | /s/ Katherine H. McDermott |
| Name: | Katherine H. McDermott | |
| Title: | Chief Financial Officer | |
| 2 |
Exhibit 99.1
BEAM GLOBAL ANNOUNCES RECORD FOURTH QUARTER EV ARC™ DELIVERIES IN 2020
SAN DIEGO, CA, January 26, 2021—Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, announced deliveries of 33 EV ARC™ systems in the fourth quarter of 2020. The Company delivered more EV ARC™ systems in the 4th quarter of 2020 than in any previous 4th quarter and more than in any of the preceding three quarters during the year. Deployments of the flagship EV ARC™ sustainable EV charging system were made to enterprise, municipal government, Federal government and utility customers, for public, workplace and fleet vehicle charging. The majority of the deliveries were to enterprise and government customers in California, including purchases made under our recently extended California DGS contract number 1-18-61-16.
“2020 was a challenging year for everyone but we were able to close it with our strongest 4th quarter yet,” said Beam Global CEO Desmond Wheatley. “I am very encouraged by the way I see 2021 developing with EV charging infrastructure government spending commitments exceeding anything we have seen in the past. I believe that local budget shortfalls which might have otherwise negatively impacted our revenue opportunities will be more than offset by Federal spending and an increased emphasis on rapidly deployed EV charging infrastructure at State and enterprise levels. We also expect to see a significant increase in consumer demand for the new EVs such as pickup trucks and SUVs that will be released this year. All those new EVs will need a place to charge and our products charge them all.”
California Governor Gavin Newsom has pledged to spend $1.5 billion in boosting the purchase of zero emission vehicles and building new charging stations across California. Newsom’s proposal also dedicates $300 million to the “greening” of state infrastructure starting with a pledge of a $50 million one-time General Fund to support the installation of zero-emission vehicle charging stations at state-owned facilities. In September 2020, Governor Newsom pledged to fast-track California’s environmental goals in response to the climate crisis. He issued an executive order that would require all new cars and passenger trucks sold in the state to be zero emission by 2035. The contract Beam has with the State of California supports these goals, along with the goals of other states
President Joe Biden has announced a plan that represents the most ambitious clean energy vision by any U.S. president in history with billions planned for EV charging infrastructure and $4 trillion sought for green jobs and infrastructure spending. On Monday, President Biden signed the “Buy American” executive order which directs government agencies to strengthen requirements about purchasing products from American companies. Beam Global’s products are made in America.
About Beam Global
Beam Global is a CleanTech leader that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.
The company develops, patents, designs, engineers and manufactures unique and advanced renewably energized products that save customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly Envision Solar, EVSI, EVSIW). For more information visit https://BeamForAll.com/, LinkedIn, YouTube and Twitter.
Forward-Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results.
Media Contact:
The Bulleit Group
BeamGlobal@BulleitGroup.com
415-742-1894