Zukin Partners Advises HyreCar on Bankruptcy Court 363 Sale to Getaround
Summary
Zukin Partners was instrumental in steering HyreCar’s sale process to a successful conclusion. After HyreCar secured a stalking horse bid, Zukin was hired to reach out to a broader set of alternative potential buyers. After reaching out to over 100 prospective buyers, where 9 met with management, Zukin conducted a robust auction process that resulted in an incremental 20% premium to the stalking horse bid. "We expect the expanded use of the Bankruptcy Code’s 363 Sale Process to be an important tool for transferring assets throughout the remainder of 2023.” HyreCar, Inc., headquartered in Los Angeles, CA, is a national carsharing marketplace for the gig economy including ridesharing, food, and package delivery via its proprietary technology platform. San Francisco-based Getaround (NYSE: GETR) makes sharing cars and trucks simple through its proprietary cloud and in-car Connect® technology.