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ATLIS Motor Vehicles Secures $300 Million Capital Commitment From Global Emerging Markets (GEM)MESA, Ariz., July 1, 2021 /PRNewswire/ -- Today, ATLIS Motor Vehicles, Inc. (ATLIS) announced a $300 million capital commitment from GEM Global Yield, LLC SCS (GGY), a Luxembourg-based private alternative investment group. Under the agreement, GEM will provide ATLIS with a Share Subscription Facility of up to $300 million for a 36-month term following the public listing of ATLIS's common stock. ATLIS will control the timing and maximum amount of each drawdown under the facility and has no minimum drawdown obligation. Concurrent with a public listing, ATLIS Motor Vehicles will issue warrants to GEM to purchase up to 4.2% of the common stock of the company. ATLIS is developing a fully electric vehicle platform, proprietary battery cells and packs, and the necessary charging infrastructure to recharge a 500-mile range battery in less than 15 minutes. "GEM's investment tremendously solidifies our long-term financial goals and reinforces our commitment to develop electrified vehicles and the technology needed to power them," said Annie Pratt, ATLIS president. "We've been quite successful with our Regulation A+ offering, which has generated investments from more than 9,000 individuals at $8.24 per share. This new capitalcommitment will propel us in our quest to continuously hit aggressive development and production milestones." About ATLIS Motor Vehicles About The GEM Group View original content:https://www.prnewswire.com/news-releases/atlis-motor-vehicles-secures-300-million-capital-commitment-from-global-emerging-markets-gem-301324435.html SOURCE ATLIS Motor Vehicles |