EVmo Announces Closing of $13.7 Million Underwritten Public Offering

LOS ANGELES, Jan. 06, 2022 (GLOBE NEWSWIRE) -- EVmo, Inc. (OTC:YAYO) (the “Company’), a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced the closing of its previously announced underwritten public offering of 27,400,000 shares of common stock (the “Common Stock”) at a public offering price of $0.50 per share, for aggregate gross proceeds of approximately $13.7 million, prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 4,110,000 shares of Common Stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.