Summary
0.39 0.01(3.71%)07/26/2024
Vicinity Motor Corp (VEV)
Vicinity Motor Corp (VEV)
Key Facts
| 1 Day | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 5 Years | All Time |
| 3.71 | -34.13 | -30.47 | -42.36 | -52.94 | -60.10 | 0.00 | -96.78 |
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| Trading Data | ||
| Close | 0.39 | |
| Open | 0.39 | |
| High | 0.40 | |
| Low | 0.35 | |
| Volume | 722,262 | |
| Change | 0.01 | |
| Change % | 3.71 | |
| Avg Volume (20 Days) | 8,828,638 | |
| Volume/Avg Volume (20 Days) Ratio | 0.08 | |
| 52 Week Range | 0.30 - 1.38 | |
| Price vs 52 Week High | -71.91% | |
| Price vs 52 Week Low | 29.20% | |
| Range | -2.97 | |
| Gap Up/Down | -0.08 | |
Fundamentals | ||
| Market Capitalization (Mln) | 19 | |
| EBIDTA | 711,000 | |
| PE Ratio | 0.0000 | |
| PEG Ratio | 0.0000 | |
| WallStreet Target Price | 0.00 | |
| Book Value | 0.9800 | |
| Earnings Per Share | -0.1000 | |
| EPS Estimate Current Quarter | 0.0000 | |
| EPS Estimate Next Quarter | 0.0000 | |
| EPS Estimate Current Year | 0.0000 | |
| EPS Estimate Next Year | 0.0000 | |
| Diluted EPS (TTM) | -0.1000 | |
| Revenues | ||
| Profit Marging | -0.0691 | |
| Operating Marging (TTM) | -0.0649 | |
| Return on asset (TTM) | -0.0611 | |
| Return on equity (TTM) | -0.1684 | |
| Revenue TTM | 53,794,000 | |
| Revenue per share TTM | 1.8470 | |
| Quarterly Revenue Growth (YOY) | -0.6730 | |
| Quarterly Earnings Growth (YOY) | 0.0000 | |
| Gross Profit (TTM) | 3,342,000 | |
| Dividends | ||
| Dividend Share | 0.0000 | |
| Dividend Yield | ||
| Valuations | ||
| Trailing PE | 0.0000 | |
| Forward PE | 6.1350 | |
| Price Sales (TTM) | 0.0000 | |
| Price Book (MRQ) | 6.2129 | |
| Revenue Enterprise Value | 2.6223 | |
| EBITDA Enterprise Value | 84.8499 | |
| Shares | ||
| Shares Outstanding | 34,892,900 | |
| Shares Float | 30,716,585 | |
| Shares Short | 0 | |
| Shares Short (Prior Month) | 0 | |
| Shares Ratio | 0.00 | |
| Short Outstanding (%) | 0.00 | |
| Short Float (%) | 0.00 | |
| Insider (%) | 11.49 | |
| Institutions (%) | 0.72 | |
07/25 07:00 EST - accesswire.com
Vicinity Motor Corp. Customers Eligible for U.S. IRS Commercial Clean Vehicle Tax Credit of Up to $40,000 per Vehicle
Tax Credits include up to $7,500 for VMC 1200 and up to $40,000 for Lightning Electric Transit Bus Purchases VANCOUVER, BC / ACCESSWIRE / July 25, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that its customers can now receive up to $7,500 tax credit toward the purchase of the VMC 1200 Class 3 Electric Truck and up to $40,000 for the Vicinity Lightning electric transit bus. This opportunity arises after approval from the United States Internal Revenue Service ("IRS") as a "qualified manufacturer" for the Commercial Clean Vehicle Credit.
Vicinity Motor Corp. Customers Eligible for U.S. IRS Commercial Clean Vehicle Tax Credit of Up to $40,000 per Vehicle
Tax Credits include up to $7,500 for VMC 1200 and up to $40,000 for Lightning Electric Transit Bus Purchases VANCOUVER, BC / ACCESSWIRE / July 25, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that its customers can now receive up to $7,500 tax credit toward the purchase of the VMC 1200 Class 3 Electric Truck and up to $40,000 for the Vicinity Lightning electric transit bus. This opportunity arises after approval from the United States Internal Revenue Service ("IRS") as a "qualified manufacturer" for the Commercial Clean Vehicle Credit.
07/17 16:30 EST - accesswire.com
Vicinity Motor Corp. Announces Closing of the US$2.5 Million Registered Direct Offering
VANCOUVER, BC / ACCESSWIRE / July 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, announces that, further to its press release dated July 16, 2024, it has today closed the US$2.5 million financing of 4,807,692 common shares of the Company in a registered direct offering and warrants to purchase up to 4,807,692 common shares in a concurrent private placement (collectively, the "Offering"), at a combined purchase price of US$0.52 per common share and warrant to purchase common shares, for gross proceeds of approximately US$2.5 million, before deducting placement agent fees and expenses. The warrants have an exercise price of US$0.64 per common share and will expire five years from the date of issuance.
Vicinity Motor Corp. Announces Closing of the US$2.5 Million Registered Direct Offering
VANCOUVER, BC / ACCESSWIRE / July 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, announces that, further to its press release dated July 16, 2024, it has today closed the US$2.5 million financing of 4,807,692 common shares of the Company in a registered direct offering and warrants to purchase up to 4,807,692 common shares in a concurrent private placement (collectively, the "Offering"), at a combined purchase price of US$0.52 per common share and warrant to purchase common shares, for gross proceeds of approximately US$2.5 million, before deducting placement agent fees and expenses. The warrants have an exercise price of US$0.64 per common share and will expire five years from the date of issuance.
07/17 07:00 EST - accesswire.com
Vicinity Motor Corp. Receives Follow on Orders for Three Vicinity Classic Clean Diesel Buses from Leading Quebec Transit Operators
VANCOUVER, BC / ACCESSWIRE / July 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of new follow-on purchase orders from two Québec, Canada transit operators for three (3) Vicinity™ Classic buses. Per the terms of the supply agreements, Robert Paquette Autobus et Fils Inc. ordered one (1), and Les Autobus Transcobec (1987) Inc. ordered two (2) Vicinity Classic Clean Diesel buses, which will be in service with Canadian public transit agency EXO.
Vicinity Motor Corp. Receives Follow on Orders for Three Vicinity Classic Clean Diesel Buses from Leading Quebec Transit Operators
VANCOUVER, BC / ACCESSWIRE / July 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of new follow-on purchase orders from two Québec, Canada transit operators for three (3) Vicinity™ Classic buses. Per the terms of the supply agreements, Robert Paquette Autobus et Fils Inc. ordered one (1), and Les Autobus Transcobec (1987) Inc. ordered two (2) Vicinity Classic Clean Diesel buses, which will be in service with Canadian public transit agency EXO.
07/16 07:00 EST - accesswire.com
Vicinity Motor Corp. Announces Pricing of US$2.5 Million Registered Direct Offering
VANCOUVER, BC / ACCESSWIRE / July 16, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 4,807,692 common shares of the Company in a registered direct offering and warrants to purchase up to 4,807,692 common shares in a concurrent private placement (collectively, the "Offering") at a combined purchase price of US$0.52 per common share and warrant to purchase common shares. The warrants issued in the concurrent private placement will have an exercise price of US$0.64 per share, will be immediately exercisable upon issuance and will expire five years from issuance.
Vicinity Motor Corp. Announces Pricing of US$2.5 Million Registered Direct Offering
VANCOUVER, BC / ACCESSWIRE / July 16, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 4,807,692 common shares of the Company in a registered direct offering and warrants to purchase up to 4,807,692 common shares in a concurrent private placement (collectively, the "Offering") at a combined purchase price of US$0.52 per common share and warrant to purchase common shares. The warrants issued in the concurrent private placement will have an exercise price of US$0.64 per share, will be immediately exercisable upon issuance and will expire five years from issuance.
07/12 10:34 EST - investorplace.com
Why Is Vicinity Motor (VEV) Stock Up 114% Today?
Vicinity Motor (NASDAQ: VEV ) stock is rocketing higher on Friday after the electric vehicle (EV) company announced certification from the California Air Resources Board (CARB). This CARB certification is for the company's VMC 1200 class 3 electric truck.
Why Is Vicinity Motor (VEV) Stock Up 114% Today?
Vicinity Motor (NASDAQ: VEV ) stock is rocketing higher on Friday after the electric vehicle (EV) company announced certification from the California Air Resources Board (CARB). This CARB certification is for the company's VMC 1200 class 3 electric truck.
07/12 08:31 EST - accesswire.com
Vicinity Motor Corp. Announces CARB Certification for VMC 1200 Class 3 Electric Truck
CARB Certification Enables Sale of VMC 1200 in Every U.S. State; Concurrently Qualifies VMC 1200 for Various Incentive Programs Nationally VANCOUVER, BC / ACCESSWIRE / July 12, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that the VMC 1200 class 3 electric truck has received certification from the California Air Resources Board ("CARB") as a zero-emission vehicle for the 2024 Model Year. CARB certification allows the sale of the VMC 1200 in California, as well as other states that have adopted CARB standards including Connecticut, Colorado, Delaware, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Mexico, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia and Washington.
Vicinity Motor Corp. Announces CARB Certification for VMC 1200 Class 3 Electric Truck
CARB Certification Enables Sale of VMC 1200 in Every U.S. State; Concurrently Qualifies VMC 1200 for Various Incentive Programs Nationally VANCOUVER, BC / ACCESSWIRE / July 12, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that the VMC 1200 class 3 electric truck has received certification from the California Air Resources Board ("CARB") as a zero-emission vehicle for the 2024 Model Year. CARB certification allows the sale of the VMC 1200 in California, as well as other states that have adopted CARB standards including Connecticut, Colorado, Delaware, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Mexico, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia and Washington.
07/10 11:04 EST - businesswire.com
Vicinity Energy Announces Bill DiCroce's Passing of the Baton to Kevin Hagerty as the New CEO
BOSTON--(BUSINESS WIRE)-- #BOSpoli--Vicinity Energy, a leading provider of sustainable energy solutions, is pleased to announce the appointment of Kevin Hagerty as the company's new chief executive officer and president. Bill DiCroce has led Vicinity and its predecessors as CEO and president since 2012 and will stay on as executive chairman of Vicinity's Board of Directors. Bill DiCroce's long tenure as CEO and president has been marked by significant accomplishments, shaping the district energy portfolio.
Vicinity Energy Announces Bill DiCroce's Passing of the Baton to Kevin Hagerty as the New CEO
BOSTON--(BUSINESS WIRE)-- #BOSpoli--Vicinity Energy, a leading provider of sustainable energy solutions, is pleased to announce the appointment of Kevin Hagerty as the company's new chief executive officer and president. Bill DiCroce has led Vicinity and its predecessors as CEO and president since 2012 and will stay on as executive chairman of Vicinity's Board of Directors. Bill DiCroce's long tenure as CEO and president has been marked by significant accomplishments, shaping the district energy portfolio.
07/08 07:00 EST - accesswire.com
Vicinity Motor Corp. Secures Expanded Order for 14 Additional Vicinity Lightning Electric Buses for Honolulu International Airport
Order will be First ‘Made in America' Buses Manufactured at Ferndale, Washington Facility VANCOUVER, BC / ACCESSWIRE / July 8, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has received an expansion to its order from strategic partner Sustainability Partners LLC ("SP"), an ESG focused Public Benefit Company committed to eliminating deferred maintenance infrastructure by enabling sustainability, increasing it's initial order from four (4) Vicinity Lightning™ electric buses to eighteen (18) via Soderholm Sales & Leasing, Inc. ("SSL"), Vicinity's Pacific Islands distributor. The 18 Vicinity Lightning™ electric buses will be used at the Daniel K.
Vicinity Motor Corp. Secures Expanded Order for 14 Additional Vicinity Lightning Electric Buses for Honolulu International Airport
Order will be First ‘Made in America' Buses Manufactured at Ferndale, Washington Facility VANCOUVER, BC / ACCESSWIRE / July 8, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has received an expansion to its order from strategic partner Sustainability Partners LLC ("SP"), an ESG focused Public Benefit Company committed to eliminating deferred maintenance infrastructure by enabling sustainability, increasing it's initial order from four (4) Vicinity Lightning™ electric buses to eighteen (18) via Soderholm Sales & Leasing, Inc. ("SSL"), Vicinity's Pacific Islands distributor. The 18 Vicinity Lightning™ electric buses will be used at the Daniel K.
06/28 17:30 EST - accesswire.com
Vicinity Motor Corp. Issues DSUs
VANCOUVER, BC / ACCESSWIRE / June 28, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announces the granting of Deferred Share Units ("DSUs"). Certain Eligible Directors have requested that their respective director's remuneration for the calendar year 2024 be paid in DSUs and accordingly, the Company has granted 273,510 DSUs in connection with Directors Remuneration for the second quarter.
Vicinity Motor Corp. Issues DSUs
VANCOUVER, BC / ACCESSWIRE / June 28, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announces the granting of Deferred Share Units ("DSUs"). Certain Eligible Directors have requested that their respective director's remuneration for the calendar year 2024 be paid in DSUs and accordingly, the Company has granted 273,510 DSUs in connection with Directors Remuneration for the second quarter.
06/17 16:30 EST - accesswire.com
Vicinity Motor Corp. Grants Stock Options
VANCOUVER, BC / ACCESSWIRE / June 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, announces the grant of 50,000 incentive stock options to its directors, officers, consultants and/or employees pursuant to the Company's Omnibus Equity Incentive Plan. The options are exercisable for a period of five years at an exercise price of C$0.85 per share.
Vicinity Motor Corp. Grants Stock Options
VANCOUVER, BC / ACCESSWIRE / June 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, announces the grant of 50,000 incentive stock options to its directors, officers, consultants and/or employees pursuant to the Company's Omnibus Equity Incentive Plan. The options are exercisable for a period of five years at an exercise price of C$0.85 per share.
06/17 08:31 EST - accesswire.com
Vicinity Motor Corp. Receives Order for Two Vicinity Classic Clean Diesel Buses from the Town of Orangeville, Ontario
VANCOUVER, BC / ACCESSWIRE / June 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of a new purchase order from the Corporation of the Town of Orangeville in Ontario, Canada for two (2) Vicinity™ Classic buses. Per the terms of the supply agreement, the Town of Orangeville ordered two of the Company's 32-foot Clean-Diesel Vicinity™ Classic buses for delivery in 2025.
Vicinity Motor Corp. Receives Order for Two Vicinity Classic Clean Diesel Buses from the Town of Orangeville, Ontario
VANCOUVER, BC / ACCESSWIRE / June 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of a new purchase order from the Corporation of the Town of Orangeville in Ontario, Canada for two (2) Vicinity™ Classic buses. Per the terms of the supply agreement, the Town of Orangeville ordered two of the Company's 32-foot Clean-Diesel Vicinity™ Classic buses for delivery in 2025.
06/10 08:31 EST - accesswire.com
Vicinity Motor Corp. Appoints Senior Financial Executive Tina Stewart as Chief Financial Officer
VANCOUVER, BC / ACCESSWIRE / June 10, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the appointment of Tina Stewart CPA, CA, a seasoned finance executive, as Chief Financial Officer, succeeding Dan Buckle. Tina Stewart is a respected finance executive with over 20 years of experience in a variety of industries including mining, telecommunications, container terminal operations, and renewable energy.
Vicinity Motor Corp. Appoints Senior Financial Executive Tina Stewart as Chief Financial Officer
VANCOUVER, BC / ACCESSWIRE / June 10, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the appointment of Tina Stewart CPA, CA, a seasoned finance executive, as Chief Financial Officer, succeeding Dan Buckle. Tina Stewart is a respected finance executive with over 20 years of experience in a variety of industries including mining, telecommunications, container terminal operations, and renewable energy.
06/05 08:31 EST - accesswire.com
Vicinity Motor Corp. Appoints Respected Transit Sales Veteran Jeff Madura as Senior Director of Sales
VANCOUVER, BC / ACCESSWIRE / June 5, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the appointment of Jeff Madura, a veteran commercial vehicle sales executive, as Senior Director of Sales to lead the Company's sales activities throughout North America. Jeff Madura has over 29 years of experience in the transit bus industry as an experienced general manager of national teams focused on bus sales, business development, alternative fuels and zero emission vehicles, technical sales, and dealer sales.
Vicinity Motor Corp. Appoints Respected Transit Sales Veteran Jeff Madura as Senior Director of Sales
VANCOUVER, BC / ACCESSWIRE / June 5, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the appointment of Jeff Madura, a veteran commercial vehicle sales executive, as Senior Director of Sales to lead the Company's sales activities throughout North America. Jeff Madura has over 29 years of experience in the transit bus industry as an experienced general manager of national teams focused on bus sales, business development, alternative fuels and zero emission vehicles, technical sales, and dealer sales.
05/14 18:45 EST - seekingalpha.com
Vicinity Motor Corp. (VEV) Q1 2024 Earnings Call Transcript
Vicinity Motor Corp. (NASDAQ:VEV ) Q1 2024 Earnings Conference Call May 14, 2024 4:30 PM ET Company Participants William Trainer - Founder & CEO Brent Phillips - President Dan Buckle - CFO Conference Call Participants Robin Cornwell - Catalyst Research Poe Fratt - Alliance Global Partners Operator Greetings, and welcome to the Vicinity Motor Corp. First Quarter 2024 Corporate Update Conference Call. At this time all participants are in listen-only mode.
Vicinity Motor Corp. (VEV) Q1 2024 Earnings Call Transcript
Vicinity Motor Corp. (NASDAQ:VEV ) Q1 2024 Earnings Conference Call May 14, 2024 4:30 PM ET Company Participants William Trainer - Founder & CEO Brent Phillips - President Dan Buckle - CFO Conference Call Participants Robin Cornwell - Catalyst Research Poe Fratt - Alliance Global Partners Operator Greetings, and welcome to the Vicinity Motor Corp. First Quarter 2024 Corporate Update Conference Call. At this time all participants are in listen-only mode.
05/14 16:05 EST - accesswire.com
Vicinity Motor Corp. Reports First Quarter 2024 Financial Results
Company Achieves Positive Cash Flow from Operations in the First Quarter, Driven by 400% Revenue Growth on Deliveries of 44 VMC 1200 All-Electric Trucks and 22 Vicinity™ Classic Transit Buses VANCOUVER, BC / ACCESSWIRE / May 14, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today reported its financial and operational results for the first quarter ended March 31, 2024. First Quarter 2024 and Subsequent Operational Highlights Revenue increased 400% to $13.3 million in the first quarter of 2024, primarily driven by the delivery of forty-four (44) VMC 1200 all-electric trucks and twenty-two (22) Vicinity Classic transit buses.
Vicinity Motor Corp. Reports First Quarter 2024 Financial Results
Company Achieves Positive Cash Flow from Operations in the First Quarter, Driven by 400% Revenue Growth on Deliveries of 44 VMC 1200 All-Electric Trucks and 22 Vicinity™ Classic Transit Buses VANCOUVER, BC / ACCESSWIRE / May 14, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today reported its financial and operational results for the first quarter ended March 31, 2024. First Quarter 2024 and Subsequent Operational Highlights Revenue increased 400% to $13.3 million in the first quarter of 2024, primarily driven by the delivery of forty-four (44) VMC 1200 all-electric trucks and twenty-two (22) Vicinity Classic transit buses.
05/10 16:05 EST - accesswire.com
Vicinity Motor Corp. Announces Amendment to Repayment Schedule on CAD$12.0 Million Debenture to Support Near-Term Liquidity Goals
Amendment Defers CAD$5.8 Million in Repayments from April and July of 2024 until Maturity VANCOUVER, BC / ACCESSWIRE / May 10, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the completion of an amendment of its unsecured debenture in the original principal amount of CAD$12.0 million, reflecting a modification of the repayment schedule to defer approximately CAD$5.8 million in principal repayments - originally due in April and July of 2024 - until the maturity date of October 4, 2024. "We are pleased to announce the deferral of CAD$5.8 million of repayments on our debentures until the maturity date in October of this year," said Brent Phillips, President of Vicinity Motor Corp. "I would like to thank our debtholders for their belief in our business momentum and flexibility in supporting our near-term liquidity goals as we monetize our inventory and robust order backlog.
Vicinity Motor Corp. Announces Amendment to Repayment Schedule on CAD$12.0 Million Debenture to Support Near-Term Liquidity Goals
Amendment Defers CAD$5.8 Million in Repayments from April and July of 2024 until Maturity VANCOUVER, BC / ACCESSWIRE / May 10, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the completion of an amendment of its unsecured debenture in the original principal amount of CAD$12.0 million, reflecting a modification of the repayment schedule to defer approximately CAD$5.8 million in principal repayments - originally due in April and July of 2024 - until the maturity date of October 4, 2024. "We are pleased to announce the deferral of CAD$5.8 million of repayments on our debentures until the maturity date in October of this year," said Brent Phillips, President of Vicinity Motor Corp. "I would like to thank our debtholders for their belief in our business momentum and flexibility in supporting our near-term liquidity goals as we monetize our inventory and robust order backlog.
05/07 08:31 EST - accesswire.com
Vicinity Motor Corp. to Report First Quarter 2024 Financial Results on Tuesday, May 14 at 4:30 p.m. Eastern Time
VANCOUVER, BC / ACCESSWIRE / May 7, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it will release financial results for the first quarter ended March 31, 2024, after market close on Tuesday, May 14, 2024. Management will host an investor conference call at 4:30 p.m.
Vicinity Motor Corp. to Report First Quarter 2024 Financial Results on Tuesday, May 14 at 4:30 p.m. Eastern Time
VANCOUVER, BC / ACCESSWIRE / May 7, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it will release financial results for the first quarter ended March 31, 2024, after market close on Tuesday, May 14, 2024. Management will host an investor conference call at 4:30 p.m.
05/02 08:31 EST - accesswire.com
Vicinity Motor Corp. Secures VMC 1200 Distribution Agreement with RJames Vicinity Truck in British Columbia, Canada
Well-Respected Commercial Vehicle Dealership to Address the Cities of Kamloops and Kelowna in British Columbia, Canada VANCOUVER, BC / ACCESSWIRE / May 2, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has signed a new distribution agreement with RJames Management Group Ltd to launch RJames Vicinity Truck, a new Vicinity dealership in British Columbia. RJames Management spun off from a family dealership selling heavy trucks to form a leading, full-service commercial truck dealer group.
Vicinity Motor Corp. Secures VMC 1200 Distribution Agreement with RJames Vicinity Truck in British Columbia, Canada
Well-Respected Commercial Vehicle Dealership to Address the Cities of Kamloops and Kelowna in British Columbia, Canada VANCOUVER, BC / ACCESSWIRE / May 2, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has signed a new distribution agreement with RJames Management Group Ltd to launch RJames Vicinity Truck, a new Vicinity dealership in British Columbia. RJames Management spun off from a family dealership selling heavy trucks to form a leading, full-service commercial truck dealer group.
04/24 08:31 EST - accesswire.com
Vicinity Motor Corp. Receives Additional 180 Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Rule
VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated April 23, 2024, notifying the Company that Nasdaq has determined that the Company is eligible for an additional 180 calendar day period to regain compliance with Nasdaq's minimum US$1.00 bid price per share requirement for continued listing on The Nasdaq Capital Market as set forth under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"), following the expiration on April 22, 2024 of the initial 180 calendar day period to regain compliance. As previously disclosed, the Company was initially notified by Nasdaq on October 24, 2023 that the Company was not in compliance with the Bid Price Requirement for a period of 30 consecutive business days, and Nasdaq granted the Company a period of 180 calendar days, or until April 22, 2024, to regain compliance with the Bid Price Requirement.
Vicinity Motor Corp. Receives Additional 180 Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Rule
VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated April 23, 2024, notifying the Company that Nasdaq has determined that the Company is eligible for an additional 180 calendar day period to regain compliance with Nasdaq's minimum US$1.00 bid price per share requirement for continued listing on The Nasdaq Capital Market as set forth under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"), following the expiration on April 22, 2024 of the initial 180 calendar day period to regain compliance. As previously disclosed, the Company was initially notified by Nasdaq on October 24, 2023 that the Company was not in compliance with the Bid Price Requirement for a period of 30 consecutive business days, and Nasdaq granted the Company a period of 180 calendar days, or until April 22, 2024, to regain compliance with the Bid Price Requirement.
04/18 07:35 EST - accesswire.com
Brent Phillips to Lead Next Phase of Growth at Vicinity Motor Corp.
Phillips is promoted to the newly created role of President Working alongside William Trainer, Founder and CEO, Phillips will drive strategic and operational initiatives to streamline production and increase vehicle sales across the Company's industry leading mid-size bus and Class 3 EV truck offerings. Phillips starts with an initial strategic plan focused on milestones related to the onshoring of production for the Lightning bus in Ferndale, WA, augmenting the Canadian dealer network for the VMC 1200 electric trucks, and the formal launch of the VMC 1200 into the U.S. market.
Brent Phillips to Lead Next Phase of Growth at Vicinity Motor Corp.
Phillips is promoted to the newly created role of President Working alongside William Trainer, Founder and CEO, Phillips will drive strategic and operational initiatives to streamline production and increase vehicle sales across the Company's industry leading mid-size bus and Class 3 EV truck offerings. Phillips starts with an initial strategic plan focused on milestones related to the onshoring of production for the Lightning bus in Ferndale, WA, augmenting the Canadian dealer network for the VMC 1200 electric trucks, and the formal launch of the VMC 1200 into the U.S. market.