DropCar Completes the Sale of its Suisun Operations for $3.5 Million in Non-Dilutive Cash

DropCar, Inc. (Nasdaq:DCAR), a leading provider of last mile logistics technology, mobility services and cloud based software for both the automotive industry and consumers, today announced that it has closed the sale of its subsidiary, WPCS International - Suisun City, Inc. (“Suisun Operations”), to certain members of the current management team of Suisun Operations, for $3.5 million in an all-cash transaction.

About DropCar

DropCar's core Mobility Cloud platform, and integrated mobile apps help consumers and automotive-related companies reduce the cost, hassles and inefficiencies of owning a car, or fleet of cars, in urban centers. Dealerships, fleet owners, OEMs and shared mobility companies use DropCar's last mile logistics platform to reduce costs, streamline logistics and deepen relationships with customers. More information is available at https://drop.car/

Forward-Looking Statements

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