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Lighting Motorcycle Hosts Equity Crowdfunding Campaign On Netcapital

For many riders, Lightning Motorcycle was a flash in the pan. The Silicon Valley-based brand couldn’t lose in the early 2010s. Lightning lived up to its name at the Bonneville Salt Flats in 2011, setting a new land-speed record with a 218-mile-per-hour run. In 2013, the firm backed up that straight-line speed with a mountain-carving win at the 2013 Pikes Peak International Hill Climb.

Unfortunately, Lightning couldn’t translate its competition caliber into successful production runs. Delays plagued the flagship LS-218’s debut while the mid-tier Strike model couldn’t live up to even its budget-friendly expectations. Throughout the COVID-19 pandemic, Lightning Motorcycle CEO Richard Hatfield regrouped—downsizing the startup to occupy a portion of Corbin Motorcycle Saddle’s Hollister, California, headquarters.

Shortly after, Lightning distributed a series of press releases stating the brand’s partnership with Niobium specialist CBMM, announcing its fully enclosed Streetliner model, and claiming a 10-minute charging time with its Enevate-developed battery. Despite those eye-catching projects, interest in Lightning remains low.

Partnering with financial tech/capital marketing company Netcapital, the electric mobility startup launched an equity crowdfunding campaign with a primary offering of 473,484 shares on March 16, 2023. At $10.56 per share, users will need to purchase 10 shares to meet the campaign’s $105.60 minimum investment limit.

Lightning hopes to raise up to $4,999,991, as crowdfunding regulations cap fundraising at $5M. There’s just one problem, the campaign has only raised $47,319 with just three days until its April 28, 2023, deadline. If investors don’t purchase $10,000 worth of Lightning Motorcycle shares by that date, Netcapital will return funds to those that already pledged to the campaign.

What do you think?

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Written by EV NEWS

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