EVmo terminates MCOM merger, suspends operations by Sep 29, 2023 due to cash exhaustion

EVmo, Inc.

Merger LOI with micromobility.com (MCOM) terminated after parties failed to agree on acceptable terms.
Company has exhausted cash resources and will suspend operations targeting Sep 29, 2023.
CEO Stephen M. Sanchez resigned effective Sep 25, 2023; remains acting chairman of the board.
No alternative strategic transaction was forthcoming, and company lacks resources for bankruptcy or dissolution.

item 5.02 item 8.01

Executive movements

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Departed

Stephen M. Sanchez

Chief Executive Officer

EVmo, Inc.

Effective: 2023-09-25
Filed: September 27, 2023, 7:59 PM ET

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.6

Stephen M. Sanchez resigned as Chief Executive Officer at EVmo, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

View on SEC.gov

Source: SEC EDGAR

accession 0001493152-23-034454

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