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ADOMANI Announces Initial Public Offering

NEWPORT BEACH, Calif., June 15, 2017 (GLOBE NEWSWIRE) -- ADOMANI Inc. (NASDAQ:ADOM), a provider of advanced zero emission vehicle solutions, announced today the completion of its Regulation A common stock offering and listing on the NASDAQ Capital Market under the ticker symbol ADOM. The company and certain selling stockholders sold more than 2.5 million shares in the offering at $5 per share, yielding proceeds to the company of approximately $9.2 million.

“Electric fleets will be an important part of tomorrow’s transportation infrastructure,” said ADOMANI CEO Jim Reynolds. “This capital raise is a milestone achievement that will allow us to grow quickly and take first mover advantage at a transformative time in the market, while allowing our new and existing investors to share in the exciting road ahead.”

The IPO enables ADOMANI to use its...