by Saleen, the company that once created the iconic S7 supercar, is once again turning to the public for financial help. This is the second attempt in the last three years to attract investments from ordinary people. The manufacturer still hopes to put its long-awaited mid-engine sports car, the S1, into production.
New Investment Opportunities
The company has launched a page on the Invown platform, where it offers to purchase common shares. Investments are accepted from $500 to over $50,000, with different investment levels offering unique bonuses.
For example, a $1,500 investment will get you a small stake in the company and early access to announcements of new Saleen models before their public release. A $5,000 investment will grant an invitation to a live virtual investor meeting with Steve Saleen himself.
A $10,000 investment includes a tour of Saleen facilities, $25,000 — a personal meeting with Steve Saleen, and $50,000 — a 5% discount on a Saleen vehicle, a personal meeting with the founder at the track, and a private dinner with him.
Lack of Key Information
Interestingly, the offering does not specify Saleen’s market value, so it is unclear what exact stake you would receive for $1,000 or $50,000. This is not the first time the company has sought money from the public, promising to use the funds to support future growth.
Previous Fundraising Experience
In 2023, Saleen launched a similar campaign on the StartEngine platform, raising $1.054 million. At that time, the company promised to finally launch the S1 model after nearly a decade of waiting. That campaign valued the company at $34.48 million and offered almost the same bonuses as now. Despite receiving the million, the S1 never materialized.
It is also worth noting that investors will only be able to profit if the company is acquired or goes public through an IPO. Therefore, potential investors should carefully check whether Saleen will use their money wisely or simply take it.
Although Saleen is no longer at the peak of its fame as in the S7 era, the company still offers a few attractive models. However, the history of unfulfilled promises regarding the S1 and the previous fundraising without visible results raise questions. This new attempt to raise capital from small investors may indicate serious financial difficulties, as traditional funding sources are likely exhausted. For enthusiasts, this could be a chance to become part of a legendary brand, but given past failures, the risk of losing invested funds remains very high.
