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

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.

About Amiga

Amiga was founded in 1990, has approximately 210 employees and currently has engineering, product development and manufacturing capabilities which Beam Global believes are ideally suited to manufacture and perfect the Company’s current products for the European market. Amiga is one of Europe’s leading manufacturers of streetlights and is strategically positioned to bring Beam Global’s patented EV Standard™ to market both in the European Union (EU) and U.S. We plan to integrate Amiga’s team of qualified engineers with Beam Global’s current team which we expect will provide a valuable enhancement and acceleration of product development cycles and reduce the requirement for Beam Global to add engineering headcount in the U.S. Pending the closing of the transaction, Amiga will be rebranded Beam EU.

According to financial statements provided to Beam Global by Amiga, Amiga generated over EUR 8.5M in revenue in 2022 and had gross profit during that period. Beam Global expects the acquisition to be accretive based on a revenue multiple with expected additional operating synergies.

Since 1990 Amiga has been selling to municipalities, states and commercial customers. Amiga’s customer profile is very similar to Beam Global’s current customers and we intend to use Amiga’s existing customer list as an initial prospecting list as we introduce Beam Global’s products to the European market. We plan to integrate Amiga’s sales and marketing team with Beam Global’s and the Company intends to add EV charging infrastructure sales expertise in Europe.

“We have spent over 30 years building credibility and solid relationships with government and commercial customers in sixteen nations internationally. Many of our customers are repeat customers. Becoming part of Beam Global will allow us to market the latest renewably energized EV charging infrastructure products to our existing customers while opening up an entirely new set of opportunities for us. We have the engineering and operational capabilities to fabricate Beam products and a long list of prospects to market them to,” said Ivan Tlacinac, Amiga CEO and owner. “I am excited by the prospect of combining our engineering team with their talent in San Diego and Chicago so that we can rapidly introduced Beam’s existing and contemplated products like the EV Standard™ to the European and surrounding regions. There is a great deal of appetite for EV charging infrastructure, renewable energy and energy security in Europe at the moment and Beam’s products provide all three. I am thrilled that we will soon be capitalizing on this opportunity as part of the growing Beam Global family.”

Strategic Rationale for the Acquisition of Amiga

Beam Global believes that the acquisition of Amiga fast tracks its growth into the European market. This market offers excellent opportunities for our off-grid, zero construction or electrical work products because:

Source: Beam Global

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