Xos completes acquisition of ElectraMeccanica; issues 1.77M shares for all outstanding shares

Xos, Inc.

Acquisition closed March 26, 2024; each ElectraMeccanica share exchanged for 0.0143739 Xos common shares.
Total consideration: 1,766,388 Xos shares to acquire all outstanding ElectraMeccanica shares.
ElectraMeccanica FY2023 revenue $0.6M, net loss $57.6M; FY2022 revenue $6.8M, net loss $123.7M.
ElectraMeccanica had cash & equivalents $65.5M and total assets $94.1M as of Dec 31, 2023.
Amendment provides audited financials of ElectraMeccanica and pro forma combined financials.

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