Saleen

[Closed for Investment] Saleen, with a valuation of $34.48 million, is raising funds on StartEngine. The company manufactures and sells cars, including Saleen 1, Saleen 302, Saleen Tesla, Saleen Bronco, and Sportruck. The supercars of Saleen Automotive are made using high-performance car design and vehicle engineering. The company also offers in-house expertise in chassis, body and power train, NVH engineering, electrical systems, and thermal systems. Steve Saleen founded Saleen in August 2021. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.24 million. The campaign proceeds will be used for research and development, marketing, working capital, and company employment.

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Investment Overview

Raised this Round: Raised: $1,122,983

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
07/11/2023
Close Date
10/05/2023
Min. Goal
$15,000
Max. Goal
$1,235,000
Min. Investment

$499

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.25

Pre-Money Valuation

$34,477,244

Company & Team

Company

Year Founded
2021
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Location
Corona, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
24
Prior Founder Exits?
No
Founder Name
Steve Saleen
Title
CEO and Director

Financials

as of Fiscal Year 2022
 Revenue +34% YoY
$3,329,975
 Monthly Burn
Profitable
 Cash on Hand
$2,958

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$3,329,975

$2,480,603

COGS

$3,657,529

$2,708,024

Tax

$0

$0

 

 

Net Income

$4,748,693

$-3,332,907

Summary Balance Sheet

FY 2022 FY 2021

Cash

$2,958

$403,804

Accounts Receivable

$48,148

$192,966

Total Assets

$16,231,810

$6,963,217

Short-Term Debt

$10,138,168

$6,531,394

Long-Term Debt

$4,359,796

$4,307,381

Total Liabilities

$14,497,964

$10,838,775

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$255,950
VC Backed?
No
Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Saleen (previously Saleen Automotive) 07/29/2024 Issuance Express $34,477,244 $423,393 Equity - Common Funded RegCF
Saleen 10/05/2023 StartEngine $34,477,244 $1,122,983 Equity - Common Funded RegCF
Saleen Automotive 03/10/2023 Dalmore Group $24,515,691 $173,019 Equity - Common Funded RegA+
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Add to portfolio
Saleen on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $34,477,244
Price per Share: $1.25

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Follow Saleen on StartEngine 2023

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Warning: according to the close date for this deal, Saleen may no longer be accepting investments.

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