OjO is changing rideshare for good. We provide safe, sustainable first and last mile mobility solutions in collaboration with local governments.
Our patented, custom-engineered scooter is built for bike lanes and streets, away from sidewalks and pedestrians, protecting public rights-of-way.
The zero emission, fully-electric OjO scooter has two swappable 48-volt lithium ion batteries that allow it to go up to 50 miles on a full charge at bike-lane-legal top speeds of 20 mph.
Integrated GPS technology allows for geo-fencing and automated speed throttling.
Letter Agreement signed with Arcturus Ventures Inc. (TSXV-NEX:AZN.H) for business combination, including a private placement financing of 9M subscription receipts at a price of C$0.76 (US$0.58) per subscription receipt for aggregate proceeds of C$6.84M (US$5.2M). Proposed post-business combination structure:
* Based on US tax considerations relevant to certain pre-business combination OjO securityholders, the final transaction structure may involve certain key OjO securityholders receiving securities convertible into, or exchangeable for, shares of the resulting issuer and/or multiple voting shares entitling those investors to approximately 80% of the outstanding voting rights of the resulting issuer immediately following closing of the business combination. The multiple voting shares will: (i) have 1,000 votes each; (ii) be convertible into resulting issuer common shares on a 1:1 basis in certain circumstances, including automatic conversion upon holders of multiple voting shares collectively owning less than 20% of the outstanding resulting issuer shares (calculated on a fully-diluted and as-converted basis); (iii) not entitle the holders to any greater economic interest per share than the resulting issuer common shares; (iv) not entitle the holders to change the rights and restrictions attached to any class of shares of the resulting issuer without a vote of all shareholders with the multiple voting shares having just one vote each; and (v) not have any anti-dilution rights. The resulting issuer common shareholders will be provided with customary coattail rights.
† Net cash post-financing, taking into account anticipated transaction fees. Proceeds from the financing are expected to be used to acquire scooters for deployment in OjO’s pipeline and for general working capital.
On-demand, electric, daily scooter rideshare program in Austin, Dallas and Hoboken. Sign up below for OjO updates: