Item 1.01 Entry into a Material Definitive Agreement.

On January 3, 2022, EVmo, Inc. (the "Company") entered into an underwriting agreement with EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters named on Schedule I attached thereto (the "Underwriting Agreement"), in connection with the offer and sale by the Company to the underwriters of 27,400,000 shares of the Company's common stock, par value $0.000001 per share (the "Common Stock"), at a public offering price of $0.50 per share (the "Offering") less underwriting discounts and commissions. The Company also granted the underwriters a 45-day option to acquire up to an aggregate of 4,110,000 additional shares of Common Stock to cover over-allotments, if any. The Underwriting Agreement contains customary representations, warranties, covenants, conditions to closing, and indemnification obligations of each of the Company and the underwriters.

The Offering closed on January 6, 2022, and the Company received aggregate net proceeds of $12,434,000 after deducting offering expenses payable to the underwriters. The Common Stock was offered and sold under a prospectus filed with the U.S. Securities and Exchange Commission pursuant to a registration statement on Form S-1 (File No. 333-257992), which was declared effective on December 23, 2021.

The Company expects to use the net proceeds from the Offering as follows:





  ? $2,303,750 for the redemption of the 230,375 outstanding shares of Series B
    Preferred Stock issued in July 2021 at a redemption price of $10.00 per share,
    assuming no notice of conversion of any of the shares of Series B Preferred
    Stock into Common Stock has been received prior to the completion of the
    Offering;

  ? $6,500,000 for the acquisition of electric vehicles, in conjunction with the
    Company's electric vehicles transition strategy;

  ? $1,000,000 for the replacement of standard vehicles with internal combustion
    engines, which will continue on a gradually decreasing basis while the
    transition to all-electric vehicles is being implemented;

  ? $700,000 to be allocated toward the Company's marketing budget and making
    enhancements to its proprietary Rideshare Platform.

The Underwriting Agreement is filed as Exhibit 1.1 to this current report on Form 8-K and the description of the material terms of the Underwriting Agreement is qualified in its entirety by reference to such exhibit.




Item 8.01 Other Events.

On January 3, 2022 and January 6, 2022, the Company issued press releases announcing that it had priced and closed the Offering, respectively. A copy of these press releases are filed as Exhibits 99.1 and 99.2, respectively, to this current report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits



Exhibit No.   Description

1.1             Underwriting Agreement dated January 3, 2022

99.1            Press Release of EVmo, Inc. dated January 3, 2022

99.2            Press Release of EVmo, Inc. dated January 6, 2022

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