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EV Transportation Services files for proposed $20M IPO
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EV Transportation Services files for proposed $20M IPO

EV Transportation Services files for proposed $20M IPO
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EV Transportation Services (EVTS), which has developed a lightweight utility EV for urban use, has filed for a proposed $20M initial public offering.
Sep. 16, 2022 5:37 PM ETBy: Val Kennedy, SA News Editor

Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure.

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EV Transportation Services (EVTS), which has developed a lightweight utility EV for urban use, has filed for a proposed $20M initial public offering.

The EV developer didn't disclose specific terms in its filing, but indicated in an attached filing fee schedule that it was looking to raise around $20M. Maxim Group is serving as lead bookrunner.

The company hopes to list its shares on Nasdaq under the symbol EVTS.

Based in Brookline, Mass., EV Transportation has developed a utility EV for use in urban parcel delivery and essential services such as security patrolling, property management, parking management, and utility meter reading.

An early stage manufacturer, EV Transportation reported a 2021 net loss of $4.8M with no significant revenue.

For more IPO news, check out SA's IPO News page.

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