Helbiz Announces Effectiveness of Registration Statement

Rhea-AI Summary

Helbiz, Inc. (NASDAQ: HLBZ) announced that its registration statement on Form S-1 was declared effective by the SEC on September 28, 2021. This registration allows the resale of up to 2,650,000 shares of Class A Common Stock by PIPE investors and an additional 5,750,000 shares obtainable through warrants. The company believes it has regained compliance with Nasdaq's listing requirements, maintaining a $15 million public float and 1 million free trading shares. Helbiz aims to continue driving shareholder value through its micro-mobility leadership.

Positive

• SEC declaration of effectiveness for the S-1 Registration Statement.
• Compliance with Nasdaq's listing requirements achieved with a $15 million public float.
• Potential for increased share liquidity with the resale of shares and warrants.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Helbiz, Inc. (“Helbiz” or the “Company”) (Nasdaq: HLBZ), a leader in micro-mobility and the first in its industry to be publicly listed on The Nasdaq Stock Market, today announced that its registration statement on Form S-1 (“Registration Statement”) was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 28, 2021 registering: (i) the resale of up to 2,650,000 shares of Class A Common Stock (the “Class A Common Stock”) held by PIPE investors; (ii) the resale of up to 2,650,000 shares of Class A Common Stock underlying warrants held by the PIPE investors at an exercise price of $11.50 per share; and (iii) 5,750,000 shares of Class A Common Stock issuable upon the exercise of the public warrants (HLBZW) at $11.50 per share. We expect the public warrants to be exercisable over the next couple of days once DTC and our transfer agent have completed the set-up process.

Helbiz Announces Effectiveness of Registration Statement (Graphic: Business Wire)

As a result of the effectiveness of the Registration Statement and based on discussions with Nasdaq, the Company believes that it has regained compliance with Nasdaq’s initial listing requirements of a $15 million free trading public float and 1 million free trading shares in the public float. The Company is awaiting confirmation from Nasdaq that it has achieved compliance.

“We are excited to have met the initial listing requirements of Nasdaq and continue to believe Helbiz is a category defining and market leading business capable of driving significant shareholder value,” said Salvatore Palella, CEO of Helbiz.

This press release does not constitute an offer or sale of, or the solicitation of an offer to buy, securities of the Company nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Helbiz

Helbiz is a global leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform in 35 cities around the world. Helbiz utilizes a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery and more, all accessible within its mobile app.

Forward-Looking Statements

Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21, 2021. The Company’s SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Helbiz and speaks only as of the date on which it is made. Helbiz undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005380/en/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005531/en/

Helbiz

For investor and media inquiries, contact:

Global Head of Communications:

Davide D’Amico - tel. +39 335 7715011 email: davide.damico@helbiz.com

PR and Communication Manager:

Chiara Garbuglia - +39 335 7388163 email: chiara.garbuglia@helbiz.com

Regions

USA

The Blueshirt Group

Gary Dvorchak, CFA - Phone: +1 (323) 240-5796 - email: gary@blueshirtgroup.com

Agent of Change

Marcy Simon - Phone: +1 (917) 833-3392 - Email: marcy@agentofchange.com

EUROPE

Helbiz Investor Relations: investor.relations@helbiz.com

Source: Helbiz, Inc.

FAQ

What did Helbiz announce regarding its registration statement on Form S-1?

Helbiz announced that its registration statement on Form S-1 was declared effective by the SEC, allowing the resale of shares held by PIPE investors.

How many shares can PIPE investors resell according to Helbiz's recent announcement?

PIPE investors can resell up to 2,650,000 shares of Class A Common Stock according to Helbiz's recent announcement.

What compliance status did Helbiz achieve with Nasdaq?

Helbiz believes it has regained compliance with Nasdaq's initial listing requirements, including a $15 million public float.

What is the exercise price for the warrants related to Helbiz's shares?

The exercise price for the warrants related to Helbiz's shares is $11.50 per share.