Arcimoto misses payment on series D convertible preferreds

By Wendy Van Sickle

Columbus, Ohio, Oct. 6 – Arcimoto, Inc. failed to make its required dividend payment on Oct. 2 on its series D 8% convertible preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

As a result, under the terms of the convertible preferreds, the dividend rate increased to 15% from 8%.

Based in Eugene, Ore., Arcimoto manufactures and sells tandem two-seat, three-wheeled electric vehicles.

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