DropCar and AYRO Announce Signing of Merger Agreement
DROPCAR (DCAR)
US:NASDAQ Investor Relations:
wpcsir.com
Company Research
Source: Business Wire
? A leading global low-speed electric vehicle (LSEV) maker? LSEV market totaled $4.9 billion in sales in 2019 and is expected to grow at a compounded annual growth rate of 15.7%? Strategic Partnership with Club Car, a subsidiary of Ingersoll-Rand (NYSE:IR) NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--DropCar, Inc. (Nasdaq: DCAR) (“DropCar”) and privately-held AYRO, Inc. (“AYRO”), an Austin-based company, today jointly announced that they have signed a definitive merger agreement under which, if approved by DropCar shareholders, will result in DropCar merging with AYRO in an all-stock transaction. The merged company would focus on creating a leading electric car company for Campus Management, Last Mile Delivery, Urban Commuting and Closed Campus Transport. The combined company is expected to operate under the name AYRO, Inc. and trade on the Nasdaq Capital Market.AYRO’s Chief Executive Officer, Rod Keller, who previously served as president of globally recognized personal transporter
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