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Stock impact report

AYRO Announces $10.0 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules

AYRO, Inc. (AYRO) 
Company Research Source: GlobeNewswire
AUSTIN, Texas, Nov. 23, 2020 (GLOBE NEWSWIRE) -- AYRO, Inc. (Nasdaq: AYRO) (“AYRO” or the “Company”), a manufacturer of light-duty, urban, and short-haul electric vehicles (EVs), today announces it has entered into definitive agreements with Carnegie Hudson Resources, an investment arm of Wanxiang America, and several existing institutional investors. Wanxiang America is a subsidiary of Wanxiang Group, a Chinese conglomerate and owner of Karma Automotive and A123 Systems, a developer of EV batteries and supplier to automotive manufacturers worldwide. Karma recently signed a strategic manufacturing, engineering and design partnership with AYRO. Terms of the offering include the sale of approximately 1,650,165 shares of the Company’s common stock, at a purchase price of $6.06 per share, in a registered direct offering priced at-the-market under Nasdaq rules. AYRO has also agreed to issue to the investors unregistered Series A warrants to acquire approximately 1,237,624 shares of com Show less Read more
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