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.
- 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.
- 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.
- Global Emerging Markets ("GEM") is a $3.4 billion alternative investment group based in Paris, New York, The Bahamas, and Los Angeles.