UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

 

HyreCar Inc
(Name of Issuer)
 
Common Stock, $0.00001 par value
(Title of Class of Securities)

 

44916T107
(CUSIP Number)
 
May 17, 2021
(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

x Rule 13d-1(b)
   
o Rule 13d-1(c)
   
o Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

   
 

 

CUSIP No. 44916T107

 

1

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Arctis Global, LLC

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a) o

(b) o

3 SEC USE ONLY
4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware, United States

 

 

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY

EACH REPORTING
PERSON WITH:

5

SOLE VOTING POWER

 

1,038,499

6

SHARED VOTING POWER

 

0

 

7

SOLE DISPOSITIVE POWER

 

1,038,499

8

SHARED DISPOSITIVE POWER

 

0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,038,499

10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) o
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

5.1%

12

TYPE OF REPORTING PERSON (see instructions)

 

IA

         

   
 

 

Item 1(a). Name of Issuer:
  HyreCar Inc.
   
Item 1(b). Address of Issuer’s Principal Executive Offices:
 

355 South Grand Avenue, Suite 1650

Los Angeles, CA 90071

   
Item 2(a). Name of Person Filing:
  Arctis Global, LLC
   
Item 2(b). Address of Principal Business Office or, if none, Residence:
 

70 East 77th Street

New York, New York United States 10075

   
Item 2(c). Citizenship:
  The Investment Manager is a Delaware limited liability company
   
Item 2(d). Title of Class of Securities:
  Common Stock, $0.00001 par value
   
Item 2(e).

CUSIP Number:

44916T107

 

   
 

 

Item 3. If this Statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
  (a) o Broker or dealer registered under Section 15 of the Act;
  (b) o Bank as defined in Section 3(a)(6) of the Act;
  (c) o Insurance company as defined in Section 3(a)(19) of the Act;
  (d) o Investment company registered under Section 8 of the Investment Company Act of 1940;
  (e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
  (f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
  (g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
  (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
  (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;
  (j) o A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J);
  (k) o Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution:      

 

Item 4. Ownership.  
 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer

identified in Item 1.

Arctis Global, LLC

  (a) Amount Beneficially Owned: 1,038,499
  (b) Percent of Class: 5.1%
  (c) Number of shares as to which such person has:  
    (i) sole power to vote or to direct the vote: 1,038,499
    (ii) shared power to vote or to direct the vote: 0
    (iii) sole power to dispose or to direct the disposition of: 1,038,499
    (iv) shared power to dispose or to direct the disposition of: 0

 

   
 

 

Item 5. Ownership of Five Percent or Less of a Class.
   
 

If this statement is being filed to report the fact that as of the date hereof, the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨.

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.
   
  Not applicable
   
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.
   
  Not applicable.
   
Item 8. Identification and Classification of Members of the Group.
   
  Not applicable.
   
Item 9. Notice of Dissolution of Group.
   
  Not applicable.
   
Item 10. Certification.
   
 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of and do not have the effect of changing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect for the time being.

 

   
 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

  May 17, 2021  
  Date  
     
  /s/ Timothy Davenport  
 

Signature

 

Chief Compliance Officer

 
  Name/Title