M&A - Driveitaway Holdings, Inc.
Form Type: 10-K
Filing Date: 2025-02-24
Corporate Action: Acquisition
Type: Update
Accession Number: 000173112225000289
Filing Summary: DriveItAway Holdings, Inc. completed an acquisition of DriveItAway, Inc. on February 24, 2022, through a Share Exchange where the existing shareholders of DriveItAway received Series A Convertible Preferred Stock in exchange for their shares. This transaction resulted in DriveItAway, Inc. becoming a wholly-owned subsidiary of DriveItAway Holdings. Following the exchange, a restructuring of the board took place with new appointments, including John Possumato as CEO and Adam Potash as COO. The Company has focused on a mobility platform that enhances vehicle sales for car dealers through a subscription model, aimed at addressing challenges faced by consumers, particularly in the subprime market. Additionally, the company formed a new subsidiary, DIA Leasing, LLC, in April 2024. DriveItAway's business strategy leverages technology to streamline vehicle subscriptions and improve customer accessibility, emphasizing options for consumers without requiring immediate long-term financial commitments.
Document Link: View Document
Additional details:
Item Number: 2
Market Value: 1,547,437
Date As Of: 2024-03-31
Item Number: 1
Shares Outstanding: 113,951,722
As Of Date: 2025-02-24
Item Number: 7
Ceo Name: John Possumato
Item Number: 8
Coo Name: Adam Potash
Item Number: 6
Preferred Stock Series: Series A Convertible Preferred Stock
Item Number: 15
Equity Increase Amount: 1,000,000,000
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