Electrameccanica Vehicles (SOLO) has provided an announcement.
In a significant move within the financial markets, ElectraMeccanica shareholders have exchanged their shares for shares in Xos, with each ElectraMeccanica Share being swapped for a fraction of Xos Common Stock. This arrangement has led to ElectraMeccanica shareholders collectively gaining 1,766,388 shares of Xos. Following this exchange, ElectraMeccanica has taken steps to halt and suspend trading of its shares on Nasdaq, further requesting to delist and deregister from the Securities Exchange Act. As the arrangement took effect, ElectraMeccanica’s shareholders ceased to have rights except for receiving new shares from Xos, and significant changes followed in the company’s board and executive officers.
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