The move comes hot on the heels of a heavily oversubscribed six-week $5 million Regulation CF crowdfunding raise – one of 2021’s fastest and also managed by Rialto Markets.
ATLIS success in crowdfunding to aid company growth
This took the Arizona-based company’s crowdfunding total to more than $21 million.
Injecting a further $10 million will enable ATLIS to:
- Recruit and retain engineers – doubling the workforce in 2022
- Buy additional battery testing and validation equipment to ramp up for full-scale production and the delivery of battery cells and packs to customers in the first half of this year
- Complete production-level design for the XP platform and XT pickup truck
- Expand sales and marketing initiatives
ATLIS President Annie Pratt said, “Partnering with Rialto Markets to rapidly raise funding has enabled us to efficiently scale battery development and move towards vehicle production.”
“We have no doubt that another crowdfunding round with Rialto Markets will facilitate us to further accelerate development and production of our ground-breaking products.”
Rialto Markets pleased to partner with ATLIS
Shari Noonan Rialto Markets’ Chief Executive Officer and Co-Founder shared her insights.
“As a trusted and regulated broker-dealer, we empower exciting and ground-breaking companies like ATLIS to raise money via our expertise in crowd funding and investment.”
“We, at Rialto Markets are facilitating and offering a fully compliant and unique secondary market trading platform for buying and selling shares in private companies.”
“We’re pleased with the success ATLIS had using our platform for its Regulation CF campaign and are delighted to now support its next raise and associated expansion.”
Investors must purchase at least 16 shares at $15.88 for a minimum investment of $254.08.