AYRO - Ayro to raise $20M in registered direct offering

Ayro ([[AYRO]] +1.7%) entered into definitive agreements with two existing institutional investors for the purchase and sale of 3.33M at a purchase price of $6/share in a registered direct offering.It has agreed to issue to the investors unregistered warrants to acquire 3.33M shares at $6.93/shar, exercisable six months after the closing and terminating 2.5 years after issuance date.Gross proceeds are expected to be ~$20M; proceeds to be used for general corporate purposes.Offer closing expected on or about Jan. 27, 2021.

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Ayro to raise $20M in registered direct offering