HyreCar, which provides a peer-to-peer car-sharing marketplace, announced terms for its IPO on Wednesday.
The Los Angeles, CA-based company plans to raise $11 million by offering 2 million shares at a price range of $5 to $6. At the midpoint of the proposed range, HyreCar would command a fully diluted market value of $62 million and an enterprise value of $52 million.
HyreCar was founded in 2014 and booked $4 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol HYRE. Network 1 Financial Securities is the sole bookrunner on the deal.
