Electric Velocipede‘s final issue is #27. In his editorial, Klima explains:
I have outstanding debt from running Electric Velocipede—and since the magazine can’t even support itself, it doesn’t make sense to keep it going and continue to spend money without earning any. On top of that are all the responsibilities of my current job and of being a husband and father that make working on Electric Velocipede more and more difficult.
In his editorial for issue #18 of Icarus, Berman does not state specific reasons for closing the magazine, but thanks those who helped create the magazine and readers who supported the magazine financially. He urges these readers to continue to seek out “short stories with gay protagonists and elements of the strange, uncanny, and weird” in other venues.