UBCO accepts valuation cut as it prepares for second funding round

UBCO is targeting the American outdoor adventure market with its utility electric motorbike. (Photo: UBCO)

Mon, 31 Oct 2022

Electric motorbike company UBCO has closed its convertible note funding round early and will launch an equity raise, likely at a reduced valuation, as it struggles to secure investment.Chief executive Katherine Sandford told BusinessDesk the company would raise money at a lower valuation than she had expected at the start of the year. This is not unique to UBCO – many listed and unlisted growth companies have been forced to accept often brutal valuation cuts as interest rates have climbed and markets have crashed. In July, ventu...

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