YayYo, which operates a fleet management and auto rental platform for ridesharing drivers, raised the proposed deal size for its upcoming IPO on Friday.
The Beverly Hills, CA-based company now plans to raise $8 million by offering 1 million shares at a price range of $7 to $9. The company had previously filed to offer 0.6 million shares at the same range of $7 to $9. At the midpoint of the range, YayYo will command a fully diluted market value of $228 million and an enterprise value of $227 million.
YayYo was founded in 2016 And booked $3 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol YAYO. The Benchmark Company is the sole bookrunner on the deal
