Smith Electric Vehicles IPO Update

Without Going Public, Smith Electric Vehicles Is Now $40 Million Richer

Written by Green Chip Stocks
Posted February 14, 2012 at 6:43PM

Last November we told you that Smith Electric Vehicles had filed for a $125 million IPO.

Well, turns out that Smith may also soon see an extra $40 million in its bank account after doing a raise with a handful of private investors. But now, some are wondering if the much-discussed IPO will even happen. Katie Fehrenbacher of Earth2Tech writes. . .

“So what about the potential $125 million IPO, which Smith filed for in November? Smith wouldn't comment on the future of the IPO and the company hasn't filed to pull the IPO yet, but often times when a company turns to private investors in the months after filing for an IPO, it indicates the company might not actually go public.”

Personally, I'm not convinced a $40 million raise will put the kibosh on the IPO. But you never know. Either way, the company continues to chug along nicely – and in all-electric mode, of course.

Check out Smith Electric Vehicles in action. . .