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Haynes and Boone Advises AYRO in $15MM Offering

July 13, 2020, 08:55 AM
Filed Under: Manufacturing
Related: Haynes & Boone

A Haynes and Boone, LLP deal team represented Austin-based AYRO, Inc., a manufacturer of light-duty, emissions-free electric vehicles, in a $15 million registered direct offering of its common stock, which closed July 9, 2020.

Founded in 2017, AYRO designs and manufactures compact, sustainable electric vehicle solutions for urban and community transport, local on-demand and last-mile delivery, closed-campus mobility, and government use.

New York Partner Rick Werner, co-chair of Haynes and Boone’s Capital Markets and Securities Practice Group, and Matt Fry, co-chair of Haynes and Boone’s Capital Markets and Securities Practice Group, led the team representing AYRO. They were assisted by Greg Kramer, the co-chair of the New York Capital Markets and Securities Practice Group, and Associate Eloise Rotenberg.

A Werner-led team also represented AYRO in its reverse merger with DropCar, Inc., which closed on May 28, 2020. In connection with that transaction, DropCar changed its name to AYRO, Inc. and the combined company commenced trading on Nasdaq under the symbol AYRO.

The Capital Markets and Securities Practice Group delivers strategic solutions and provides comprehensive advice on a full range of securities transactions and reporting matters. The group has helped companies raise capital and comply with evolving securities laws and practices for more than four decades, and it serves as securities counsel to more than 30 public companies ranging in size from small cap companies to large cap multi-national business entities.

Haynes and Boone is an international corporate law firm providing a full spectrum of legal services in energy, technology, financial services and private equity.

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