---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-067155"
form_type: "8-K"
ticker: null
cik: "0001558583"
company_name: "Arcimoto Inc"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T11:01:38.702680+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Arcimoto issues $660K principal OID promissory notes due Aug 15, 2023 for $600K net proceeds

## Summary
- Sold two unsecured OID notes to Gregory Castaldo and Joseph Reda, each $330K principal ($300K purchase price).
- Notes mature Aug 15, 2023, bear no interest until maturity, but accrue 18% after 3-day default grace.
- Proceeds used for capex and working capital; notes convertible into equity at $1 of principal per $1 of new offering price.
- Investors have MFN conversion rights in any subsequent equity offering while notes are outstanding.

## SEC filing metadata
- accession: 0001213900-23-067155
- form_type: 8-K
- cik: 0001558583
- company_name: Arcimoto Inc
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1558583/000121390023067155/0001213900-23-067155-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1558583/000121390023067155/ea183550-8k_arcimoto.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-067155
- JSON: https://secwatch.observer/filing/0001213900-23-067155.json
- Plain text: https://secwatch.observer/filing/0001213900-23-067155.txt

## Key facts
- Debt Financings
  Arcimoto Inc incurred loan of $330,000 with Gregory Castaldo and Joseph Reda at no interest until August 15, 2023 maturing August 15, 2023.
  - Instrument: loan
  - Principal: $330,000
  - Counterparty: Gregory Castaldo and Joseph Reda
  - Rate: no interest until August 15, 2023
  - Maturity: August 15, 2023
  - Event: incurrence
  source text: On August 8, 2023, Arcimoto, Inc. (the “Company”) sold Gregory Castaldo and Joseph Reda (the “Investors”), each an unsecured original issue discount promissory note in the principal amount of $330,000 (the “Promissory Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1558583/000121390023067155/0001213900-23-067155-index.htm
- Material Agreements
  Arcimoto Inc entered into Promissory Notes with Gregory Castaldo and Joseph Reda valued at $330,000 (effective 2023-08-08).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Gregory Castaldo and Joseph Reda
  - Value: $330,000
  - Effective: 2023-08-08
  source text: On August 8, 2023, Arcimoto, Inc. (the “Company”) sold Gregory Castaldo and Joseph Reda (the “Investors”), each an unsecured original issue discount promissory note in the principal amount of $330,000 (the “Promissory Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1558583/000121390023067155/0001213900-23-067155-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.