EZRAIDER Global Inc., has announced a $50 million investment commitment from Luxembourg-based Global Emerging Markets Group (GEM) to take the company to the 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 percent of the common stock of the company.
This comes just weeks after EZRAIDER announced a final agreement to acquire DS Raider in Israel.
The Chief Executive Officer, EZRAIDER Global, Mozy Azarzar, said the firm has established a clear path to a public listing and was delighted to partner with GEM.
He stated that the $50 million commitment from GEM gives EZRAIDER the power to radically change the EV market and expand our sales and production post listing.
“In a 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.
The Chief Executive Officer/Co-Founder, DSRaiser, Miki Bar, commended EZRaider Global for securing the agreement with GEM, adding their financial backing would significantly accelerate EZRaider’s ability to achieve its true global sales potential.
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.