ZAP Additional Funds Raised… From the U.A.E. (ZAAP)

By Douglas A. McIntyre Updated Apr 14, 11:46AM EDT · Published May 19, 9:13AM EDT

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

There is some interesting financing news this morning, even if the financing is not one of massive proportions in private equity, venture capital, or in sovereign-type investments.

An OTC-BB listed stock called ZAP (OTCBB: ZAAP), a US-based electric car pure play, saw the completion of a financing pact this morning from Dubai-based The Al Yousuf Group.

The total financing was a convertible debt placement in the amount of $475,000.00, but this is after the Al Yousuf Group purchased $5 million in ZAP shares back in November.

The Al Yousuf Group is a manufacturing and distribution company in the U.A.E. This isn’t the first "green investment" from the Arab world nor is this the first investment out of the U.A.E. for alternative energy plays. But take this a step further. Imagine if Zap! went out and allowed The Al Yousuf Group to either manufacture or at least coordinate some of the manufacturing of electric vehicles in the U.A.E. at some point down the road.

When Arab countries that produce oil invest in technologies that ultimately compete against oil, you know they are looking to get in on the next energy technology.

ZAP shares are up 3.6% at $0.86 in early trading today; its 52-week trading range is $0.40 to $1.16,

You can join our open email distribution list to hear about other IPO’s, secondaries, financings, spin-offs, and mergers.

Jon C. Ogg
May 19, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.

Follow 24/7 Wall St. on Google

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.