Motos America Inc (OTCMKTS:WECT) To Offer Common Stock and Bonds Under Rule 506c
Publicly traded motorcycle dealership firm, Motos America Inc (OTCMKTS:WECT), on May 17, 2022, entered into an agreement with CIM Securities, LLCColorado to function asthe placement agent. Under the agreement, CIM will be acting as the lead broker, selling to the clientele, and managing syndicate of additional sales agents.
Market Stats
On Tuesday, WECT stock ended flat at $0.0600 with 9K shares, compared to its average volume of 11k shares. The stock moved within a range of $0.0600 – 0.0600 after opening trading at $0.0600.
Key Details
The firm commenced offering of the securities under Rule 506(c) and the exemption will enable it to broadly solicit and advertise this offering. The firm is intending to take steps for verifying purchasers’ accredited investor status as well as ensuring certain other conditions in Regulation D are satisfied.
CEO of Motos America Inc, Vance Harrison said that the company was successful in the last offering raising over $5 million, through efforts by him and the management team. Harrison added that the company is expecting more success with the fresh round, enabling it to continue aggressively building dealership network.
Motos American currently owns as well as operates three motorcycle dealerships in Oregon as well as in Tennessee. Furthermore, it is developing an open point BMW motorcycle dealership in Atlanta. Lastly, it has a Letter of Intent to purchase three more dealerships in Florida.
Headquartered in Colorado, CIM Securities isan independent investment bank serving micro-cap as well as small-cap companies by giving capital raising solutions. Furthermore, it is engaged in merger and acquisition services for firms looking for growth capital.
Key Quote
“We were successful in our last offering, raising just over $5.0 million, strictly through the efforts of myself and our management team” said Vance Harrison, CEO of Motos America Inc. “We expect to be even more successful with this new round, which will allow us to continue aggressively building our dealership network” he continued.
Traders Corner
WECT stock is trading above the 20-Day and 50-Day Moving averages of $0.0426 and 0.0469 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0505.
