3-Day Auction Event of Assets from Arcimoto – Manufacturer of Electric Utility Vehicles
Key Points
- Sold a significant portion of the company’s manufacturing assets to create liquidity to fund go forward efforts and improve operational efficiencies
- Conducted a 3-day auction event, targeting global buyer base across multiple manufacturing verticals
- Assets located in six buildings across four locations were consolidated to facilitate lease terminations and maximize operational control throughout auction process
617
Registrants
10
Countries Participated
1106
Total Lots
3
Auction Days
90
Execution Days
Arcimoto manufactures and sells tandem two-seat, three-wheeled electric vehicles. Due to lower-than-projected sales and monetary issues, the company was seeking to generate liquidity, address outstanding financial obligations, streamline operations, and fund a radically different business model going forward. Integra Asset Solutions, along with its partners, purchased the assets and subsequently conducted a complete sales process in which over 1000 lots of metal machining, fabricating, welding, and support equipment were sold through a series of three auction sales.
