2023-08-08 13:55:03 ET
- Electric, purpose-built delivery vehicles manufacturer AYRO, Inc. ( NASDAQ: AYRO ) fell 5.6% to $0.68 as it announced an agreement to raise proceeds of about $22 million in a private placement of convertible preferred stock and warrants.
- "...It (Financing) should ensure we can complete the development, manufacturing ramp up and marketing of the Vanish, our lead low speed electric vehicle (LSEV) and meet its anticipated growth in demand," commented Tom Wittenschlaeger, AYRO's CEO.
- Source: Press Release
For further details see:
AYRO raises $22M to complete manufacturing of flagship electric vehicle