NEW YORK, NY – On August 8, 2023, Palladium Capital Group, LLC announced it acted as sole placement agent a private placement in which AYRO, Inc. (the “Company”) entered into a Securities Purchase Agreement  with certain existing investors (the “Investors”), pursuant to which it agreed to sell to the Investors (i) an aggregate of 22,000 shares of the Company’s newly-designated Series H-7 convertible preferred stock with a stated value of $1,000 per share, initially convertible into up to 22,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a conversion price of $1.00 per share, and (ii) warrants to acquire up to an aggregate of 22,000,000 shares of Common Stock at an exercise price of $1.00 per share.

About AYRO

AYRO designs and produces zero emission vehicles and systems that redefine the very nature of sustainability. Our goal is to craft solutions in a way that leaves minimal impact on not only carbon emissions, but the space itself. From tire tread, fuel cells, sound and even discordant visuals, we apply engineering and artistry to every element of our product mix. The AYRO Vanish is the first in this new product roadmap. For more information, visit ayro.com.