Helbiz Announces Purchase of PIPE units by its Chief Executive Officer

Rhea-AI Summary

Helbiz, Inc. (NASDAQ: HLBZ) announced that its CEO, Salvatore Palella, purchased 350,000 units from the August 2021 PIPE offering for $1,001,000. Each unit consists of one share of Class A Common Stock and one warrant to purchase an additional share at $11.50. Palella expressed confidence in Helbiz's prospects amidst increasing global interest in micro-mobility solutions to address urban transportation challenges. Helbiz operates with a diverse fleet across over 40 locations, leveraging proprietary technology and expanding into live streaming and food delivery services.

Positive

• CEO Salvatore Palella's purchase of 350,000 units indicates confidence in the company's future.
• Helbiz is engaged in discussions with over a dozen local governments, universities, and B2B partners in the U.S., showing growth potential.
• The company is expanding its offerings to include live streaming and food delivery, diversifying revenue streams.

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 March 29, 2022, Salvatore Palella, Founder and Chief Executive Officer of Helbiz, purchased 350,000 units of the August 2021 PIPE offering, each unit consisting of one shares of Class A Common Stock (the “Class A Common Stock”) and one warrant to purchase an additional share of Class A Common Stock for $11.50 per share for an aggregate price of $1,001,000.

“Looking at this industry and the year ahead, I only grow more confident about Helbiz,” said Palella. “As the market matures, we see global interest in bringing micro-mobility to their streets. Right now, just in the United States, we’re in conversations with over a dozen local governments, universities and B2B partners about providing our services.”

“Micro-mobility continues to be an increasingly attractive solution to a number of issues, such as carbon reduction, urban traffic decongestion, and economical and convenient urban transportation. We have never been more excited by our potential to fully capture the huge market opportunity in front of us.””

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/20220329005569/en/

Helbiz



For media inquiries:

Matt Rosenberg

Head of Communications, NA

press@helbiz.com

+1 (646) 726-2146



For investor inquiries:

The Blueshirt Group

Gary Dvorchak, CFA

gary@blueshirtgroup.com

+1 (323) 240-5796

Source: Helbiz, Inc.

FAQ

What recent investment did Helbiz CEO Salvatore Palella make?

Salvatore Palella purchased 350,000 units from the August 2021 PIPE offering for $1,001,000.

What are Helbiz's future business interests?

Helbiz is in discussions with multiple local governments and partners to expand its micro-mobility services across the U.S.

What new services is Helbiz planning to offer?

Helbiz is expanding into live streaming, food delivery, and financial services through its mobile app.