Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
EZRAIDER Global, Inc. (www.EZRAIDER.com) is pleased to announce a $50 million investment commitment from Luxembourg-based Global Emerging Markets Group (GEM) to take the company public. Under the agreement, GEM will provide EZRAIDER Global with a Share Subscription Facility of up to $50 million for a 36-month term following a public listing of EZRAIDER's common stock. EZRAIDER Global will control the timing and maximum number of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of EZRAIDER’s shares, EZRAIDER Global will issue warrants to GEM to purchase up to 5.7% of the common stock of the company. This comes just weeks after EZRAIDER announced a final agreement to acquire DS Raider in Israel. (Recent Press Release – https://yhoo.it/31pa1wK)
“EZRAIDER Global has established a clear path to a public listing and is delighted to partner with GEM. The $50 million commitment from GEM gives EZRAIDER the power to radically change the EV market and expand our sales and production post listing,” said Mozy Azarzar, CEO of EZRAIDER Global, Inc.
“In a very short period of time EZRAIDER has developed beyond what we had imagined it could be. The simplistic and rugged design of EZRAIDER makes it easy to expand into new use categories by developing specialized accessories. Technological breakthroughs, like the new remote-controlled agricultural applicator, expand the EZRAIDER transportation technology platform and grow its competitive edge across multiple vehicle sectors,” added Azarzar.
EZRAIDER Global hopes to finalize a public listing by year end 2021 while DSRaider (Israel) continues to focus on R&D and the expansion of government testing and sales.
“We commend EZRaider Global for securing this agreement with GEM. Their financial backing will significantly accelerate EZRaider's ability to achieve its true global sales potential,” said Miki Bar, BG(RES.), CEO & Co-founder of DSRaider.
Distributed by APO Group on behalf of EZRAIDER Global, Inc..
Moshe (Mozy) Azarzar
EZRAIDER GLOBAL INC.
Fax : 206.590.3038
About EZRAIDER Global, Inc:
EZRAIDER is a proprietary electric vehicle platform that comes in 2wd, 4wd and 6wd options when combined with the ECART trailer. It was originally developed in Israel for military troop mobility in the field and has since become available to governments and consumer markets in numerous countries, including the US.
When paired with accessories, EZRAIDER vehicles are competitive for a wide variety of uses including urban commuting & errands, agriculture, off-road work and adventure, search and rescue, fire, security, military, enhanced mobility for disabled persons, golf, tourism, hunting, fishing, camping, facilities maintenance, micro-deliveries and more. EZRAIDER GLOBAL is located near Seattle, Washington.
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with operations in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: www.GEMNY.com.
Safe Harbor Statement
This press release has been prepared by EZRAIDER GLOBAL INC. (“EZ”) for informational purposes only and not for any other purpose. Nothing contained in this press release is, or should be construed as, a recommendation, promise or representation by the presenter or EZ or any officer, director, employee, agent or advisor of EZ. This presentation does not purport to be all-inclusive or to contain all of the information you may desire. Information provided in this video presentation speaks only as of the date hereof.
This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, forward-looking statements within the meaning of the Safe Harbor include statements concerning: future financial performance; projections on market share and market growth; future market opportunities; EZ's products and technology and their expected performance characteristics, specifications and specific uses; and anticipated new product offerings and features. Actual results or trends could differ materially from those contemplated by these forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements. Forward-looking statements speak only as of the date the statements are made and are based on information available to EZ at the time those statements are made and/or management's good faith belief as of that time with respect to future events. EZ assumes no obligation to update forward- looking statements to reflect events or circumstances after the date they were made, except as required by law.
This press release also may contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk.