MSK Represents HyreCar in Initial Public Offering
MSK represented client HyreCar Inc., a peer-to-peer ridesharing platform, in connection with its recently announced Initial Public Offering at a price to the public of $5.00 per share. The shares began trading on the Nasdaq Capital Market on Wednesday, June 27, 2018, under the symbol "HYRE." The offering, which resulted in gross proceeds of $12.6 million, closed on June 29, 2018.
“HyreCar has been a client of the Firm since their beginning,” stated MSK Vice Chairman Nimish Patel. “It’s great to be part of their journey in growing from a small startup to a publicly traded company on Nasdaq. HyreCar has a bright future in the ridesharing sector and beyond, and we are pleased not only to have assisted in this IPO, but to continue driving forward with them down the road ahead,” Mr. Patel concluded.
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HyreCar actively operates in 34 states plus Washington, D.C. The peer-to-peer platform was created to leverage technology and establish a presence in automotive asset sharing. Drivers and vehicle owners alike can utilize the platform to create an opportunity for themselves where one did not previously exist. By providing a safe, secure, and reliable marketplace, HyreCar helps both parties come together– one driver, one vehicle, one road at a time.