• Ideanomics Inc (NASDAQ: IDEX) plans to launch a voluntary conditional tender offer for Energica Motor Company S.p.A. shares to increase its investment to ~70%. Deal terms were not disclosed.

• Ideanomics continues to expand its global footprint in the electric vehicle industry with its investments in the Italian electric motorcycle maker Energica.

• The Energica Founders shall continue to own 29% of Energica.

• Energica nearly doubled its sales in 2020, and the first half of 2021 has been strong, with the firm receiving a significant order to date. This performance fuels a swift expansion in the European market and Asia, the Middle East, and Africa.

• "The two-wheeler electric market is poised for significant growth, and we couldn't be more excited about the synergies between Ideanomics and Energica that will allow us to be a prime player in this space," commented Shane McMahon, Executive Chairman of Ideanomics.

• Price Action: IDEX shares are trading higher by 1.40% at $2.17 during the premarket session on Wednesday.

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