Zero-emissions technology provider Adomani Inc. listed on June 15th on the NASDAQ after it raised $9.2 million through a Reg A+ offering. Adomani represents only the second such issuer to list its shares on a major exchange since Reg A+ rules went into effect in 2015, and the first to list on the Nasdaq. Medical robotics company Myomo Inc. became the first Reg A+ company to trade on a major exchange, raising almost $8mm on June 9th and listing on the New York Stock Exchange’s MKT venue.

Adomani raised over $14 million in total, as reported by Crowdfund Insider. The company reported that certain selling stockholders sold more than 2.5 million shares in the offering at $5 per share, yielding net proceeds to the company of approximately $9.2 million. Boustead Securities aided Adomani in the IPO, and recently acquired the equity crowdfunding platform FlashFunders.

Reg A+ is a newly created, leaner version of an initial public offering created by the Jumpstart Our Business Startups Act, which allows small companies to raise up to $50 million through a speedier and less costly version of an IPO. With the funding limit, Reg A+ issuers file shorter registration statements and are eligible for other incentives not available to traditional IPOs. Reg A+ offerings tend to move through the regulatory pipeline quicker, and the U.S. Securities and Exchange Commission has said that Reg A+ deals have taken an average of 78 days from filing until approval, whereas standard IPOs can take several months.