HyreCar skids after pricing stock offering

HC Liquidating

04/02/2021 12:52

** HyreCar Inc  HYRE.O  shares down ~17% premarket after co
prices follow-on
    ** HYRE set to snap 5-session winning streak that has seen
stock more than double
    ** Ridesharing, food, and package delivery services firm
sells 2.2 mln shares at $11.75, raises ~$25.85 mln  urn:newsml:reuters.com:*:nBw60S3qYa
    ** Offering prices at ~25% discount to stock's last sale
    ** Co plans to use net proceeds for working capital, and
general corp purposes including sales and marketing and
technology investments to grow its platform
    ** Lake Street Capital Markets and Northland Securities jt
bookrunners for offering
    ** HYRE has 17.7 mln shares outstanding for ~$277 mln market
cap, per Refinitiv data, and 14.7 mln shares of free float

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))