Helbiz Announces Purchase of PIPE Units By Its Chief Executive Officer

Rhea-AI Summary

Helbiz, Inc. (NASDAQ: HLBZ) announced that CEO Salvatore Palella purchased 200,000 units in a PIPE offering, comprising 200,000 shares of Class A Common Stock and warrants for an additional 200,000 shares at $11.50 each. This $2 million investment signifies his commitment to the company's growth. Helbiz is a leader in micro-mobility and operates in 35 cities, offering e-scooters, e-bicycles, and e-mopeds. The company also plans to expand into food delivery and live streaming services, enhancing urban lifestyle convenience.

Positive

• CEO Salvatore Palella's $2 million investment indicates strong confidence in Helbiz's growth potential.
• Helbiz is expanding its services beyond micro-mobility to include food delivery and live streaming, which could enhance revenue streams.
• The company operates a diverse fleet of vehicles across 35 cities, increasing its market presence.

Negative

• Forward-looking statements highlight risks that could materially affect business performance, including regulatory changes and market conditions.

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 August 9, 2021, Salvatore Palella, Founder and Chief Executive Officer of Helbiz, purchased 200,000 units of the PIPE offering which consisted of 200,000 shares of Class A Common Stock (the “Class A Common Stock”) and warrants to purchase an additional 200,000 shares of Class A Common Stock for $11.50 per share.

Palella commented, “Since founding Helbiz I have been fully committed to our shared success, especially now that we are publicly traded and have significant funding for our growth initiatives. Although the vast majority of my family’s net worth is invested in Helbiz, I am further increasing our commitment with this additional $2 million investment, which reflects our growing optimism and confidence in the Company’s prospects. Helbiz is quickly emerging as one of the leading enablers of the modern urban lifestyle. With an extensive micro-mobility network, a nascent food delivery business, and strong early traction in media and financial services, Helbiz is more than just a way to get from point A to point B -- our app is becoming a portal to the excitement and convenience of modern urban life.”

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/20210930005938/en/

For further information, please contact:

Helbiz Contacts

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



Global Head of Communications: +1 ‎(917) 675-7157

Davide D’Amico - email: davide.damico@helbiz.com



PR and Communication Manager:

Chiara Garbuglia - email: chiara.garbuglia@helbiz.com



USA

Agent of Change

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



For investor inquiries:

The Blueshirt Group

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

Source: Helbiz, Inc.

FAQ

What did CEO Salvatore Palella announce about his investment in Helbiz (HLBZ)?

CEO Salvatore Palella announced he purchased 200,000 units of a PIPE offering, investing $2 million in Helbiz.

How is Helbiz expanding its services beyond micro-mobility?

Helbiz is expanding its services to include food delivery and live streaming, enhancing its urban lifestyle offerings.

In how many cities does Helbiz operate its micro-mobility services?

Helbiz operates its micro-mobility services in 35 cities worldwide.

What are the potential risks mentioned in Helbiz's press release?

The press release mentions risks related to regulatory changes, market conditions, and the impact of the COVID-19 pandemic.