HyreCar Announces $12.25 Million in Financing to Further Accelerate Growth and Terminates “At-the-Market” Offering
LOS ANGELES, Jan. 06, 2023 (GLOBE NEWSWIRE) — HyreCar Inc. (NASDAQ:HYRE), the carsharing marketplace for ridesharing and food and package delivery services, today announced that it had raised $12.25 million in financing. The financing includes an initial tranche of $4.25 million that has been funded and a second tranche of $8 million that is subject to shareholder approval which is anticipated in the first quarter 2023. Less than $1 million in securities issued from the initial tranche will be registered securities and issued off of an S-3 registration statement. The remaining securities from both the initial and second tranches will be issued in a private placement that will be registered with the U.S. Securities and Exchange Commission in an S-1 registration statement at a later date.