Tag Archives: Saleen

Automotive News

INVEST $1M IN SALEEN AND GET A MUSTANG IN YOUR DRIVEWAY

BY: RICHARD MORGAN on November 9, 2015 at 11:53 pm
Original Article: NEW YORK POST

Not every debt-for-equity deal puts a souped-up Mustang in its investors’ driveways, but then not every company has Steve Saleen’s product line.

Saleen, the founder of Saleen Automotive, recently negotiated a capital infusion of up to $10 million that will deliver a Black Label Mustang or its equivalent for each $1 million in new debt or preferred stock.

“I know it’s not your typical return on an investment,” Saleen said of the Mustangs, Camaros, Challengers and Teslas he customizes into turbo-charged vehicles at his Corona, Calif., factory.

Since the starting price for each Saleen car is about $75,000, the company’s new creditor, SM Funding, is already fast out of the gate.

But the returns stand to accelerate, given the deal also includes up to $2 million in senior notes that pay 12 percent, and up to $8 million in preferred stock that will ultimately give the lending group 61 percent of publicly traded Saleen.

Cyrano Group’s David Bergstein, who’s credited with negotiating terms for SM Funding, also exacted a two-year, $25,000-a-month consulting fee for his advisory firm. At the closing, meanwhile, Saleen Automotive must take out a $15 million “key man” insurance policy on its founder, who was a professional race-car driver before going into the car-customization business in 1984.

Saleen’s stock hasn’t traded above a penny since May. And though it rose 1.5 percent in over-the-counter trading Monday, it still didn’t qualify as, literally, a penny stock.

Saleen, who’s been chasing capital since going public via a reverse merger in 2013, said the terms were fine.

“This delivers just enough so we can focus on executing,” he told The Post.

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[Source: New York Post]

Event Coverage

SEMA 2015

PHOTOS: EAGLE ONE, MIKE BERG, JIM DVORAK, SPECRACER

Eagle One booth, Saleen S7
Eagle One booth, Saleen S7
Eagle One booth, Saleen S7
Eagle One booth, Saleen S7
Cooper Tire booth, 2015 S302 Black Label
Cooper Tire booth, 2015 S302 Black Label
Mothers Polish booth, Jim Dvorak with Steve Saleen
Mothers Polish booth, Jim Dvorak with Steve Saleen

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[Source: Eagle One, Mike Berg, Jim Dvorak, Specracer]

Enthusiast News

AUCTION: SALEEN S7, S7R & S5S RAPTOR

Saleen S7, S7R & S5S Raptor

Timed Online Auction
Date: Bidding Closes November 18, 2015
Time: 10:00am PST

Location: Sun Valley, CA
Inspection: November 16 & 17 – 10:00am – 4:00pm each day

NOTE:

This sale offering is for the Assets and Intellectual Property of the Saleen S7, S7R and S5S Raptor and are being sold by the current owner and is not related to or affiliated with Saleen Automotive Inc.

The Saleen Name and Trademark are owned by Saleen Automotive Inc.

Saleen Automotive Inc does not have any ownership in the Saleen S7, S7R and S5S Raptor Assets and IP and are no way connected to this offering.

Description
GA Global Partners is offering for sale the Assets and Intellectual Property of the Saleen S7, S7R and S5S Raptor at online auction. The sale will include all remaining inventory, parts, memorabilia, molds, designs and intellectual property related to the Saleen S7, S7R and the Saleen S5S Raptor.

Included in this unique offering are six remaining chassis/frames for the Saleen S7 and S7R, and the one-of-a-kind concept car for the never-produced Saleen S5S Raptor.

These prized assets have been kept in safe storage for the past five years which makes this a truly rare and historic opportunity to own all assets and rights to the first ‘Great American Supercar,’ and allow a new owner to continue the legacy with the S5S Raptor

The street-legal Saleen S7 was introduced in 2000 and was followed by the S7R racing version in 2001. The S7R won nearly 30 poles and set 27 fastest laps at several tracks, including the 24 Hours of Le Mans. The Saleen S5S was unveiled at the New York International Auto Show in 2008 but was never produced.

The Saleen S7 has been featured in numerous blockbuster movies like Bruce Almighty, Need for Speed and Iron Man and has been covered extensively by the media and automotive magazines. The Saleen S7 and S5S Raptor have also been featured in top-selling video games, including, Asphalt, Forza, Midnight Club, and Gran Tourismo.

Click Here for Complete Terms and Conditions of Sale

Terms of Sale are summarized below. Please review and bid accordingly.
• A 18% Buyer’s Premium will be added to your bids
• Accepted forms of payment: CASHIER’S CHECK OR WIRE TRANSFER ONLY. NO CREDIT CARDS, NO PERSONAL CHECKS.
• All invoices must be PAID IN FULL by close of business the day following auction completion.
• REMOVAL: Typically, three days following the close of auction, please Email us with any questions or concerns specific to each event.
• All items are sold AS-IS, WHERE-IS. All sales are final – NO REFUNDS, RETURNS OR EXCHANGES
• Local sales tax will apply. To claim exemption, fax your valid, LOCAL and SIGNED resale certificate to 818-884-3561, or Email us. Reference your USER ID/BIDDER NUMBER on the fax.
• If you are claiming exemption, you may deduct sales tax from your payment, exemption documents must be provided when items are removed. Exemption claims will not be considered once payment has been made and items have been removed.
• Out-of-state shipments are exempt from tax if shipped directly from the auction site and a BILL OF LADING is provided.

Transportation & Logistics
• All buyers are responsible for the items purchased at the auction. Below is a list of companies that can assist you with shipping those items. Please contact them directly for scheduling and pricing.
• It is your responsibility and the responsibility of your shipping agent to coordinate removal procedures and schedules with the company selling the assets (equipment) prior to removing the equipment.
• All the equipment must be paid for in full before a release will be given for the removal of the equipment.
• If there are any questions or errors regarding the equipment, you must contact the auctioneer prior to removing the equipment. Once the equipment is removed, you assume all responsibilities.

These shipping company names are provided for your convenience, you are not required to use these companies.

Pack and Ship Companies
• Adcom Worldwide Services – Tel: 800.370.7700
• Craters and Freighters – Tel: 800.736.3335
• Freight Logistics – Tel: 720.377.9460
• Moveit Specialized Logistics – Chad McDermott • Tel: 800.831.0030 x17
• Navis Pack & Ship – Tel: 800.344.3528 for locations
• Pioneer Transfer – Tel: 402.564.390

Rigger & Transportation
• Advanced Riggers & Millwrights Off: 951-361-9187 (ask for Frankie)

Click here to participate in the discussion.

[Source: Great American Global Partners, Inc.]

Press Release

COOPER TIRE BRINGS HIGH PERFORMANCE TO SEMA ON SALEEN MUSTANG

PHOTO: TIRE BUSINESS BY DAVE ZIELASKO

LAS VEGAS–(BUSINESS WIRE)–Cooper Tire is showcasing its ultra-high performance Zeon RS3-S tire on a 2016 Saleen® 302 Black Label Mustang in booth #43019 (South Hall) at the Specialty Equipment Market Association (SEMA) show now through November 6.

The 2016 Saleen 302 Black Label Mustang is rolling on Cooper Zeon RS3-S ultra-high-performance tires.
The 2016 Saleen 302 Black Label Mustang is rolling on Cooper Zeon RS3-S ultra-high-performance tires.

“Our RS3-S tires meet the exacting standards of Saleen, while also meeting the demands of everyday performance enthusiasts.”

Saleen is an iconic American name in motorsports, synonymous with superb quality and unparalleled performance, and now comes standard with Cooper Zeon RS3-S tires.

“We are excited to work with Saleen, whose maximum performance vehicles give us an opportunity to demonstrate the capabilities and state-of-the-art technology engineered into our high performance products,” said Scott Jamieson, Cooper’s Director of Product Management. “Our RS3-S tires meet the exacting standards of Saleen, while also meeting the demands of everyday performance enthusiasts.”

The race-inspired RS3-S is an ultra-high performance tire that delivers world-class dry road traction, increased handling and exceptional cornering. The tire’s tread compounds are specifically formulated to combine dry and wet traction with crisp handling and high speed capabilities. The RS3-S also features a 20,000-mile treadwear protection warranty and a 45-day road test guarantee.

For more information on Cooper and the SEMA show, visit www.coopertire.com and www.semashow.com. Also connect with Cooper on Facebook, Twitter and Instagram.

About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company, together with its subsidiaries, is a leading designer, manufacturer and marketer of innovative, great-performing tires that people depend on for all of life’s road trips, whether on city streets, off-road adventures or high-speed tracks. In fact, Cooper is proud to sponsor and race in all three levels of the Mazda Road to Indy development program within the IndyCar racing series. Cooper tires can also be seen on the track as a sponsor of the IMSA Prototype Lites Series, and competing in the short course off-road TORC Series. Headquartered in Findlay, Ohio, Cooper, together with its subsidiaries, has manufacturing, sales, distribution, technical and design operations in more than one dozen countries around the world. This year, as we head into our second century in the tire industry, Cooper is looking toward a future where innovation will continue to drive our products and our products will continue to drive the world. To connect with Cooper, visit www.coopertire.com, www.facebook.com/coopertire or www.twitter.com/teamcoopertire.

About Saleen Automotive, Inc.
Saleen is an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel. Founder Steve Saleen has continually set the bar for automotive design and performance engineering in both street and racing applications. Saleen plans to utilize its existing strategic partnerships and dealer network to refine its design and engineering prowess, continue development of emerging automotive technologies, and expand its presence nationwide with a combination of automotive retail services, aftermarket parts and new vehicle sales to build significant long-term value. Learn more at www.saleenautomotive.com.

Contacts:
Cooper Tire & Rubber Company
Michelle Rehbein, 419-423-1321
mrrehbein@coopertire.com

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[Source: BusinessWire & Tire Business]

Event Coverage

MALIBLUE METALLIC S302 BLACK LABEL DEBUTS AT SEMA 2015

PHOTOS & TEXT: MIKE BERG

After the show they are swapping out the rims with carbon fiber and the chevrons for black.

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[Source: Mike Berg]