Ideanomics Inc. has signed an investment agreement with Energica Motor Company S.p.A. for the subscription of €10,909,091 equal to 64.17% of the share capital increase against the issue of no. 6,128,703 Energica ordinary shares. Upon completion of the subscription of the capital increase, the investor will hold a stake of at least 20% of the company’s share capital. The subscription price was determined at Euro 1.78 per share, as a result of the weighted average of the official price of Energica shares recorded in the six months prior to the execution of the transaction.

Livia Cevolini, CEO of Energica Motor Company S.p.A., commented, “The creation of a network of innovative companies can only accelerate the growth and adoption of new technologies, such as sustainable mobility, that sees us among the leaders. We are confident to make our contribution derived from decades of experience in the field of high-performing electric motorcycles. The investment will give further strength to the Energica growth already underway in recent years thanks to the innovations brought to our products within the racing experience in MotoE.”

”Energica has combined zero emission EV technology with the pedigree of high-performance mobility synonymous with Italy’s Motor Valley to create a range of exceptional products for the high-performance motorcycle market. To support its products, it has developed proprietary EV battery and DC fast-charging in-house that has applications and synergies with our broader interests in the global EV sector. We were very impressed with Livia and her team throughout our
discussions, and we are very pleased to support them through their next phase of growth” said Alf Poor, CEO of Ideanomics.

First Europe assisted Energica as financial advisor. Nctm acted as legal counsel for Energica and Venable LLP acted as legal counsel for Ideanomics Inc. The bookrunner is Bestinver Securities.