HyreCar revs up after $100 mln revolving line of credit, sees fleet growth

HC Liquidating

06/09/2022 13:27

** Shares of carsharing marketplace HyreCar Inc  HYRE.O 
soar ~72% to $1.38 in premarket trade 
    ** Co announces agreement with a premier global investment
bank and Medalist Partners for $100 mln warehousing line of
credit
    ** The global investment bank will provide primary financing
with Medalist Partners providing $20 mln in additional financing
    ** HYRE expects AmeriDrive to add an additional 6,000 to
7,000 vehicles over the next 12 to 18 months to its platform
    ** YTD, HYRE down ~83% as of last close

 (Reporting by Nathan Gomes in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com;))