Helbiz Announces Purchase of PIPE units by its Chief Executive Officer

Rhea-AI Summary

Helbiz, Inc. (NASDAQ: HLBZ) announced that CEO Salvatore Palella purchased 300,000 units in a PIPE offering, totaling $1,740,000. The offering includes shares and warrants for an additional 300,000 shares at $11.50 each. Palella expressed strong confidence in the company's future, emphasizing commitment to shareholder alignment and the growth of its micro-mobility services. The company showcased its innovations at CES 2022 in Las Vegas, highlighting a focus on sustainability and expanding services through its app.

Positive

• CEO Salvatore Palella purchased $1,740,000 worth of company shares, signaling strong personal commitment.
• The investment aligns management's interests with shareholders, which is typically a positive indicator.
• Helbiz is expanding its offerings and focuses on sustainability, positioning itself favorably in the growing micro-mobility market.

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 on January 4, 2022, Salvatore Palella, Founder and Chief Executive Officer of Helbiz, purchased 300,000 units of the PIPE offering which consisted of 300,000 shares of Class A Common Stock (the “Class A Common Stock”) and warrants to purchase an additional 300,000 shares of Class A Common Stock for $11.50 per share for an aggregate price of $1,740,000.

Helbiz Announces Purchase of PIPE units by its Chief Executive Officer (Photo: Business Wire)

“I have never been more confident in the outlook for Helbiz,” commented Palella. “This purchase increases my commitment to our business and further aligns the interests of management and shareholders. Micro-mobility offers convenient, inexpensive, and green transportation for urban life, while also providing the infrastructure for delivery and advertising. The centralization of our services delivers a ‘one tap away’ experience in the Helbiz app, enabling us to grow our user base and reach them with new offerings.”

“Our team is attending the Consumer Electronics Show (CES) 2022, taking place in Las Vegas this week, to display our innovative e-scooters and to share our approach to creating a sustainable mobility experience of the future with customers, partners and investors,” added Palella. “We are proud of our leadership’s commitment to addressing key ESG issues, especially around creating a positive environmental impact.”

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 with over 40 licenses in 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, financial services and more, all accessible within its mobile app. For additional information, please visit www.helbiz.com.

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. 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/20220106005322/en/

For investor and media inquiries:

For media inquiries: https://www.helbiz.com/pressroom

PR and Communication Manager:

Chiara Garbuglia – Phone: +1 ‎(917) 675-7157 - email: chiara.garbuglia@helbiz.com

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

Source: Helbiz, Inc.

FAQ

What did Helbiz CEO Salvatore Palella purchase recently?

Salvatore Palella purchased 300,000 units in a PIPE offering for a total of $1,740,000.

What is the significance of the PIPE offering for Helbiz?

The PIPE offering indicates strong internal confidence in the company's future and aligns management interests with shareholders.

Where did Helbiz showcase its innovations in 2022?

Helbiz showcased its innovations at the Consumer Electronics Show (CES) 2022 in Las Vegas.

What is Helbiz's focus in terms of service?

Helbiz focuses on expanding micro-mobility services and sustainability through its mobile app.