HyreCar Announces Pricing of $10.5 Million Public Offering of Common Stock
HyreCar Inc. (HYRE)
Last hyrecar inc. earnings: 3/25 04:10 pm
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Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--HyreCar Inc. (“HyreCar”) (Nasdaq: HYRE), the carsharing marketplace for ridesharing, today announced the pricing of an underwritten registered public offering of 3,500,000 shares of its common stock at a public offering price of $3.00 per share. HyreCar also granted the underwriter a 30-day option to purchase up to an additional 525,000 shares of its common stock at the public offering price, less the underwriting discount, to cover over-allotments, if any.The gross proceeds from the offering, before deducting the underwriting discount and estimated offering expenses payable by HyreCar, are expected to be $10.5 million, or $12.075 million if the underwriter exercises its option in full. All of the shares in the offering are being sold by HyreCar. The offering is expected to close on or about July 23, 2019, subject to customary closing conditions.HyreCar plans to use the net proceeds from the offering to expand sales and marketing, customer support, an
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