Beam Global Executes Binding LOI to Acquire Europe Based Amiga, Announces Proposed Public Offering of Common Stock and Announces Q2 Revenue and Unit Guidance

The planned accretive transaction is intended to expand Beam Global’s business into the European market and increase Beam Global’s production, engineering, sales and product development expertise

Filed Pursuant to Rule 433
Free Writing Prospectus dated June 16, 2023
Relating to Preliminary Prospectus dated June 16, 2023
Registration No. 333-238701

• Acquisition expected to increase and diversify revenues and gross profits
  
• Amiga recorded revenue of over EUR 8.5M in 2022
• Expected to enhance Beam Global’s manufacturing and engineering capabilities
• Expected to accelerate the development of our EV Standard and other products both in the European and U.S. markets
• Expected to add new customer segments in both the U.S. & Europe
  

SAN DIEGO, June 16, 2023 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW) (“Beam Global” or the “Company”), a leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, today announced the execution of a binding Letter of Intent to acquire European based Amiga DOO Kraljevo (“Amiga”), an established manufacturer of specialized structures and equipment, producing street lights, communications and energy infrastructure whose manufacturing, engineering and sales teams serve municipalities, states and commercial customers in 16 nations. The transaction is pending completion of Beam Global’s due diligence, which will include customary closing conditions, and is expected to be finalized in Q3 or Q4 2023.

Additionally, Beam Global today announced that it has commenced an underwritten public offering of shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The offering is not conditioned on the completion of the potential acquisition of Amiga. Maxim Group LLC and Freedom Capital Markets are acting as joint book-runners of the proposed offering.

Q2 Update

Beam Global anticipates our revenue for the three months ended June 30, 2023 to be in a range of $15.5 million to $17.0 million which would be the highest quarterly revenue achieved in the Company’s history. For the three months ended June 30, 2023, we anticipate delivering approximately 195 to 205 ARC solar-powered EV charging infrastructure systems as well as continuing to deliver our energy storage solutions to our customers.