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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): September 30, 2022

 

EVmo, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-39132   81-3028414
(State or other jurisdiction
of Incorporation)		   (Commission
File Number)		   (IRS Employer
Identification Number)

 

2301 North Sepulveda Boulevard
Manhattan Beach, California		   90266
(Address of registrant’s principal executive offices)   (Zip code)

 

(310) 926-2643

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading symbol(s)   Name of each exchange on which registered
None.   None.   None.

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 8.01 Other Events.

 

On September 30, 2022 (the “Issuance Date”), Terren S. Peizer, executive chairman of the board of directors of EVmo, Inc., a Delaware corporation (the “Company”), agreed to provide financing to the Company in the amount of $600,000 (the “Principal Amount”). The Principal Amount will be allocated as collateral for the Company’s newly-formed, wholly-owned subsidiary, Premier Mobility Insurance Inc., an Oklahoma corporation, a captive insurer that will provide insurance directly to the Company.

 

As consideration for Mr. Peizer’s action, on the Issuance Date the Company issued to Mr. Peizer a subordinated promissory note (the “Note”) due September 30, 2023 (the “Maturity Date”) in the Principal Amount. The Note shall not bear interest.

 

On the Maturity Date, the Company shall pay the Principal Amount to Mr. Peizer and shall also issue to him a common stock purchase warrant, which will enable Mr. Peizer to purchase up to 3,640,000 shares of the common stock of the Company, par value $0.000001 per share, at an exercise price of $0.33 (the “Warrant”). The Warrant shall be exercisable at any time between the Maturity Date through September 30, 2028.

 

The Note was issued, and the Warrant shall be issued, in reliance on the exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: October 6, 2022 EVmo, Inc.
     
  By: /s/ Stephen M. Sanchez
  Name: Stephen M. Sanchez
  Title: Chief Executive Officer

 

 

 

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