Smith Electric Vehicles Raises $58M for Acquisition, Expansion

Smith Electric Vehicles U.S. Corp. has raised $58 million in a private placement that will be used partly to pay for the recent purchase of its British counterpart.The Kansas City-based company, which makes plug-in electric delivery trucks, said late Monday that it sold $39 million in preferred stock shares and converted bridge notes and related warrants into an additional $19 million in convertible stock shares.LANE4 is pleased to serve as Smith Electric’s national real estate and incentives procurement representative.