Founded in 2017, Vancouver’s Damon Motors will soon be a publicly traded company thanks to a reverse merger.
Damon is behind the tech-forward HyperSport electric motorcycle, which promises a range of up to 200 miles and a top speed of 200 miles per hour, as well as a novel production design and new safety technologies.
Originally announced in 2023, the transaction is currently expected to close in the coming months, subject to obtaining regulatory approvals from the Securities and Exchange Commission and satisfying other closing conditions.
“For years now the motorcycle community has been asking about when Damon will become a publicly traded company, so they can help drive its success,” Jay Giraud, chief executive officer of Damon, stated this week. “I’m thrilled that we’ll soon be able to make it a reality.”
Damon is working with technology firm Inpixon to complete a business combination, resulting in a proposed spin-off entity called Grafiti Holding.
“We are looking forward to the moment when we can light up the ticker DMN for both Grafiti’s shareholders and the general public at large,” said Nadir Ali, CEO of Grafiti. “This is an exciting time that’s a year in the making.”
Damon has also partnered with Swiss die casting company Aluwag. That collaboration is to produce the motorcycle’s die-cast aluminum battery case.
Damon’s approach to integrating its pack with the chassis into a single unit reduces mass, parts count, complexity and cost, setting a new standard for electric motorcycle designs according to Giraud.
In addition, the B.C. upstart is collaborating with Taiwan-based manufacturer Fukuta to bring its revolutionary high-speed electric motor-gearbox into production.
“Together, we’re reshaping motorcycling’s future, where the performance-to-weight ratio can start to exceed that of combustion motorcycles,” Giraud said in March.
Damon has a growing book of US$88 million in reservation orders from over 3,400 people.
Does Damon Motors have any sales this year?