Vancouver’s Damon Motors will soon be a publicly traded company thanks to a reverse merger.
The maker of the award winning HyperSport electric motorcycle has signed a definitive agreement with Inpixon (NASDAQ: INPX) to complete a business combination with a proposed spin-off entity of Inpixon, Grafiti Holding Inc.
Damon has received more than USD $70 million in funding to date and has secured more than USD $85 million in pre-production, consumer reservations for its motorcycles.
The enterprise value of Damon was ascertained by Inpixon’s independent financial advisory firm to be within the range of USD $224 million and USD $284 million.
Founded in 2017, Damon is committed to unleashing the full potential of motorcycling for the world. Its products incorporate cutting-edge technology designed to solve unaddressed safety problems in motorcycling.
Combined with its 200 hp/200 mph/200 miles of range, Damon motorcycles are at the forefront of electric two-wheelers, holding the potential to displace combustion motorcycles and lead the industry into a safer, more sustainable future.
“You can’t be the future of anything if you’re not better than the past,” said Jay Giraud, founder, and CEO of Damon.
“It is necessary for us to target performance metrics as good or better than anything achieved before, otherwise we won’t see masses of people giving up their gas motorbikes for electric ones — people want to trade up in life.”
To prove its performance, Damon’s flagship model, the award-winning HyperSport, was recently track tested and reviewed in Wired Magazine: “The Damon effectively screams at full acceleration: a high-pitched shriek from the HyperDrive’s electric motor and internal gear set. It sounds like nothing more or less than the future.”