HyreCar Completes Public Offering

By Staff Writer February 17, 2021

HyreCar Inc, a carsharing marketplace for ridesharing, food, and package delivery services, announced that it completed a previously announced underwritten public offering of an aggregate of 2.53 million shares of its common stock at a public offering price of $11.75 per share for gross proceeds of approximately $29.7 million, before deducting underwriting discounts and commissions and estimated offering expenses, which includes the exercise in full of the underwriters’ option to purchase 330,000 additional shares. Lake Street Capital Markets, LLC and Northland Securities acted as joint book-running managers for the offering.

HyreCar intends to use the net proceeds from the offering, in addition to its existing cash resources, for working capital and general corporate purposes including sales, marketing, and technology investments to continue to expand its platform.

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Last modified on Wednesday, 17 February 2021 14:46