StartEngine, Elio Motors and the Securities and Exchange Commission Make Crowdfunding History; SEC Qualifies Elio Motors for $25MM, Largest Equity Offering to Date under Regulation A+

LOS ANGELES–(BUSINESS WIRE)–StartEngine, the nation’s leading equity crowdfunding platform, revealed
today that the United States Securities and Exchange Commission (SEC)
has qualified a $25MM offering for equity shares of automotive startup
Elio Motors, through a campaign hosted on StartEngine. American
investors can now purchase equity shares in Elio Motors and participate
in building a business they are passionate about. It is anticipated
these shares will trade like conventional stocks.

“This is a major victory for investment equality, and may be the biggest
financial breakthrough of this generation,” said StartEngine CEO Ron
Miller. “With this momentous SEC qualification, the government is
setting an example for how nonaccredited investors can pursue
opportunities via the StartEngine platform, including investing in Elio
Motors and the next wave of progressive companies.”

A StartEngine issuer from the outset, Elio Motors is among the first
handful of companies to receive SEC qualification under the Regulation
A+ rules. Since the June 2015 launch of Regulation A+, these new rules
facilitate investment by nonaccredited individuals using a crowdfunding
mechanism. Elio Motors founder Paul Elio seeks to challenge the status
quo of personal transportation with an affordable, safe and
environmentally friendly vehicle.

“Our goal is to alter the course of American transportation, and with
today’s breakthrough, we are one step closer to this revolution, not
just for drivers, but for anyone who believes that a good idea has the
power to change the world,” said Elio Motors founder Paul Elio. “We’re
thrilled to open our doors to thousands of new investors, and will
utilize the capital as part of our plan to begin production in late
2016.”

Elio Motors is one of the first companies on the StartEngine.com
platform to issue equity shares, with many more coming soon. Visit www.StartEngine.com
to learn more about investing in equity shares of Elio Motors.

Visual assets for StartEngine and Elio Motors can be downloaded
here.

About StartEngine Crowdfunding, Inc.

StartEngine is the premier equity crowdfunding platform, connecting
Millennials and aspiring investors with tomorrow’s progressive
companies. Based in Los Angeles, the company was created in 2013 by
Howard Marks, co-founder of Activision, and Ron Miller. StartEngine aims
to revolutionize the startup business model by helping all people invest
in private companies on a public platform, now viable for the first time
in history, thereby helping entrepreneurs achieve their dreams.

Learn more at http://www.startengine.com.

Contacts

fortyseven communications for StartEngine
Craig Sinel, 323-658-1200
startengine@fortyseven.com