HyreCar (HYRE) Announces Proposed Public Offering of Common Stock

HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for ridesharing, food, and package delivery services, today announced that it has commenced a proposed underwritten public offering of common stock of the company. HyreCar expects to grant the underwriters a 30-day option, solely to cover over-allotments, if any, to purchase additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Lake Street Capital Markets, LLC and Northland Securities Inc. are acting as joint book-running managers for the offering.

HyreCar intends to use the net proceeds from the offering for working capital, and general corporate purposes including sales and marketing and technology investments to continue to grow our platform.

A registration statement relating to the securities being sold in the offering has been declared effective by the Securities and Exchange Commission on May 7, 2020.

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