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Boustead Securities Client ADOMANI Announces Initial Closing of its Regulation A+ Offering; Meets NASDAQ Capital Raise Requirement

/EINPresswire.com/ -- LOS ANGELES, CA--(Marketwired - May 14, 2017) - Boustead Securities, LLC client ADOMANI, Inc. ("Adomani" "the Company," "we" or "us"), a provider of advanced zero-emission electric and hybrid vehicles and replacement drivetrains, announced it has held the initial $11.845 million closing of its Regulation A+ Tier 2 offering (the "Offering"). Adomani intends to be the first Reg A+ offering to list on NASDAQ, and with this closing has now met the capital raise requirement of the exchange. The Offering is for a total of up to $25 million, including up to $3 million from the sale of shares held by certain of the Company's stockholders. The final closing date has not been determined, but the Offering will remain open to accredited investors who wish to invest online at http://www.FlashFunders.com/Adomani through May 16, 2017.

"This is truly a milestone in Adomani's quest to deliver our products and technology to the market," said President and CEO Jim Reynolds. "The net proceeds to Adomani from this closing allows us to continue to execute our business plan, and we are thankful to our investors for having the confidence in us to enable us to do that."

Dan McClory, Head of Equity Capital Markets at Boustead Securities, LLC, the Lead Underwriter in the Offering, commented "Adomani has been getting a tremendous amount of interest from investors since the beginning of the Offering. This first closing of nearly $12 million takes the Company another step closer to being the first Reg A+ offering to trade on NASDAQ." Network 1 Financial Securities, Inc. is Co-Underwriter of the Offering.

The Company is offering a minimum of 2,120,000 shares of common stock and a maximum of 4,400,000 shares of common stock at an offering price of $5.00 per share. Any interested parties should read the Company's Offering Statement on Form 1-A, including the financial statements and risk factors, and other reports the Company may file with the Securities and Exchange Commission, and after having done so, should contact the Company for more information.

About the Company
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. Adomani helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. Adomani designs, manufactures and installs advanced zero-emission electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles. Adomani also designs, manufactures and installs unique and patented conversion kits to replace conventional drivetrain systems for diesel and gasoline powered vehicles, including buses, with zero-emission electric or hybrid drivetrain systems.

About Boustead Securities, LLC
Boustead Securities, LLC ("Boustead") is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead's core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead's team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For more information, visit www.boustead1828.com

About FlashFunders
FlashFunders is a tech-enabled investment bank that empowers companies to publicly fundraise from anyone, including accredited investors, international investors and the crowd. FlashFunders has built the technology and regulatory infrastructure to facilitate any type of distributed securities offering (including Reg A+, Reg D and Reg CF). As a FINRA-registered Broker-Dealer, Clearing Firm, Funding Portal and Transfer Agent, FlashFunders is an end-to-end resource for companies raising capital. FlashFunders was founded in 2012 and is headquartered in Santa Monica, CA. For more information visit www.flashfunders.com

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities of the Company, including without limitation the common stock. Any such offer is made exclusively through the Company's Offering Circular dated April 28, 2017, as the same may be amended or supplemented (the "Final Offering Circular"). The Final Offering Circular is available at www.flashfunders.com/Adomani, https://www.sec.gov/cgi-bin/browse-edgar?company=adomani%2C+inc.&owner=exclude&action=getcompany, or may be obtained from Boustead Securities at (949) 502-4409 or angela@bousted1828.com

Safe Harbor Statement
The company has made statements in this press release that are considered "forward-looking statements" which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control. For further discussion of the factors that could affect outcomes, please refer to the risk factors set forth in the "Risk Factors" section of the Final Offering Circular. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

Boustead Securities, LLC:
Dan McClory
Head of Equity Capital Markets
+1 (949) 502-4408
dan@boustead1828.com

FlashFunders, Inc.:
Brian Park
President
+1 (310) 467-0049
brian@flashfunders.com

Adomani Inc.:
Michael K. Menerey
Chief Financial Officer
+1 (626)483-3280
mike.m@ADOMANIelectric.com

Kevin Kanning
VP Investor Relations
+1 (650) 533-7629
kevin.k@ADOMANIelectric.com