Zeus Electric Chassis, Inc. Launches REG-D 506C Offering
MINNEAPOLIS, May 19, 2021 /PRNewswire/ -- Zeus Electric Chassis, Inc., ("Zeus" or the "Company"), a fully configurable class 3-8 electric work truck manufacturer, is offering up to $50,000,000 (subject to increase) of Simple Agreements for Future Equity ("Series 2 SAFEs") to an unlimited number of accredited investors.
Zeus has engaged Silicon Prairie Capital Partners, LLC ("SPCP"), a registered broker-dealer, to act as a nonexclusive placement agent to assist the Company in selling the Series 2 SAFEs in this offering.
The Company has developed uncompromising, fully configurable, fully electric solutions to address the untapped class 3-8 specialty work truck market. The Zeus Electric Vehicle (EV) work truck platform is designed to meet the needs of many industries and markets.
"EV mandates are driving the efforts to decarbonize work truck fleets in the United States," said Wayne Kugel, Zeus Electric Chassis CEO. "Fifteen states in the U.S. Climate Alliance have signed agreements to require 30% of their fleets to be electric by 2030, with more aggressive goals in California and New York further accelerating EV adoption in their states. Based on NTEA data, the 15 states with EV mandates represent over 40% of work truck sales in the U.S. - estimated at 140,000 trucks in 2021.
"With a potential addressable market of $8 billion by 2030 that will be created in Zeus-targeted industries, this additional capital will allow Zeus to meet the need to fulfill the EV fleet adoption mandates in these fifteen states, as well as across the nation," continued Kugel.
Zeus is well positioned for growth as it plans to establish a manufacturing/assembly plant in southeastern Oklahoma at a facility owned by Choctaw Defense Manufacturing. The Company also plans to continue building its backlog, as well as working with municipal fleets, utilities, and OEM manufacturers to develop unique solutions and configurations.
Zeus is uniquely positioned to meet the inherent challenges and opportunities of EV fleet adoption. Its EV work truck chassis offers an innovative, thoughtful solution for the industry and the environment.
This press release neither constitutes an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized, and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. Further, the SAFEs being offered by Zeus have not been registered under the Securities Exchange Act of 1933, any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from the registration requirements.
For additional information about Zeus and to request our offering materials, please visit: zeuselectricchassis.com/invest or our Silicon Prairie investment portal at: zeus.sppx.io.
About Zeus Electric Chassis, Inc.
Zeus is a fully configurable class 3-8 electric work truck manufacturer. Our mission is to design and manufacture uncompromising, full-electric vocational solutions that address environmental and industry needs. Zeus is a Delaware corporation based in White Bear Lake, MN. Learn more about Zeus at zeuselectricchassis.com.
US Contact: [email protected]
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995 and "forward-looking information" as such term is defined in applicable US and Canadian securities legislation. The words "may," "would," "could," "should," "potential," "will," "seek," "intend," "plan," "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to Zeus Electric Chassis, Inc. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including, without limitation, the conditions to closing of the transaction being satisfied, including obtaining all necessary approvals for the transaction. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information or statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information or statement is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information or statement. The forward-looking information and/or statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
For further information, please contact:
Wayne Kugel, Chief Executive Officer
Zeus Electric Chassis, Inc.
Phone: (844) 938-7462
Email: [email protected]
SOURCE Zeus Electric Chassis, Inc.
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