New York, NY, July 30, 2017 --(PR.com
)-- Visionary Vehicles, Inc. (“Visionary”) announced today that it has engaged Castle Placement as its exclusive placement agent to raise $25 million of equity. Proceeds will be used by Visionary primarily to fund product development and for preparation of the launch of the Bricklin 3EV, an innovative, pure electric, 2-passenger, fully enclosed, high quality 3-wheel vehicle.
Visionary has designed and engineered a luxurious, high performance, affordable, and safe all-electric 3-wheel vehicle which is cool, relevant, and exciting to drive ... a new paradigm of personal eco-mobility for a new vehicle segment. Visionary’s vehicles feature a retail price of $25,000, while offering dramatic styling, state-of-the-art technology, advanced safety features, 200+ mile range, 0-60 acceleration in 6 seconds, a 100 MPH top speed, and a full complement of driver/passenger conveniences.
The 3EV will be built in America. Production is scheduled to commence in the second quarter of 2019. The U.S. distribution network is expected to consist of 252 high caliber new car dealers, committed to Visionary’s mission. The Visionary management team, led by famed automotive entrepreneur Malcom Bricklin, has proven expertise in all aspects of the motor vehicle industry.
Founded in 2009, Castle Placement raises equity and debt capital for private start-up, early-stage, and middle market companies across a broad spectrum of industries. Its highly experienced investment bankers and robust and innovative technology platform connect issuers with global institutional investors. Castle Placement has over 27,000 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds, and lenders.