LOS ANGELES – March 12, 2018 – YayYo, Inc. today announces that it has closed on $6M in financing. The financing consisted of debt, equity and common stock purchase warrants.
The funding came from Bellridge Capital, a privately held investment firm. Bellridge Capital late last year also gave the company a $200,000 Bridge loan.
The funding Helps YayYo to continue to move forward with its business plan of its subsidiary, Rideshare car rentals, LLC. The www.RideSharerental.com platform is a peer-to-peer platform where individuals and fleet owners, including the fleet owned by the company, can list their cars to rent to rideshare drivers. The financing also help to fulfill one of the requirements of YayYo must satisfy in order to list its common stock on the Nasdaq Capital Market.
“We are very excited to have Bellridge Capital as an investor and partner in YayYo, Inc,” said Ramy El-Batrawi, CEO. “This provides further gives validation to YayYo’s business model”
Bellridge Capital is a privately held investment firm that specializes in providing growth and development capital to emerging small and mid cap public and private companies. Bellridge Capital is a comprehensive and globally oriented investment firm with multiple investment strategies employed on a daily basis involving different sectors. The founder of Bellridge Capital Robert Klimov has extensive experience in the financial sector. Whenever an investment decision is made at Bellridge, the decision originates from many hours of authentic research into market data and market trends.
The Company was also qualified on March 17th, 2017 by the Securities and Exchange Commission for a Regulation A+ Initial Public Offering to raise gross proceeds of $50 million. Interested investors can purchase shares directly at www.YayYoIpo.com.
YayYo, Inc., also recently announced that the Company has filed an application to list its common stock on the NASDAQ Capital Market..
This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward- looking statements. We have identified forward-looking statements by using words such as “expect,” “believe,” and “should.” Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form SEC filings.