HyreCar Inc. filed an asset purchase agreement in the US Bankruptcy Court for the sale of substantially all its assets on May 10, 2023. As per the agreement dated May 8, 2023, seeks the Court?s approval for the sale of substantially all its assets to Getaround, Inc., the winning bidder, for a purchase price of $8.13 million minus the deposit amount, the aggregate amount of seller-responsible vendor liabilities as of closing date and $0.5 million cash payment. The transaction is expected to close on the second business day following full satisfaction.

The buyer is represented by Daniel Bugbee of DBS Law as its legal advisor and the debtor is represented by Brian L. Davidoff & Jonathan Shenson of Greenberg Glusker Fields Claman & Machtinger LLP as its legal advisors.