Helbiz Announces Purchase of Shares by its Chief Executive Officer

Rhea-AI Summary

Helbiz, Inc. (NASDAQ: HLBZ) announced that CEO Salvatore Palella purchased 2,044,676 shares of Class A Common Stock for $2,019,935, representing approximately 6% of the company's common stock. This acquisition reflects Palella's commitment to the company's future and success. He emphasizes the firm's focus on reducing costs, streamlining processes, and key performance indicators moving forward. Helbiz operates in micro-mobility services, offering e-scooters, e-bicycles, and e-mopeds across over 40 global cities, leveraging advanced technology for operations.

Positive

• CEO Salvatore Palella invested $2,019,935 in purchasing 2,044,676 shares, signaling confidence in the company's future.
• Focus on cutting costs and streamlining operations may enhance profitability.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Helbiz, Inc. (Nasdaq: HLBZ), a leader in micro-mobility and the first in its industry to be publicly listed on the Nasdaq, announced that today Salvatore Palella, Founder and Chief Executive Officer of Helbiz, purchased 2,044,676 shares of Class A Common Stock (the “Class A Common Stock”) from a seller for an aggregate price of $2,019,935 which represents about 6% of the common stock.

“I continue to be excited and hopeful for the future of Helbiz and the impact that we will have on the world,” said Palella. “Looking forward, we will continue to focus on cutting costs, streamlining processes and on the important KPIs of our business. This purchase today is a personal commitment from me on the future of the company and our continued success.”

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/20220606005953/en/

Helbiz Contacts



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 stock purchase did Helbiz CEO Salvatore Palella make?

CEO Salvatore Palella purchased 2,044,676 shares of Class A Common Stock for $2,019,935.

What is the significance of Salvatore Palella's stock purchase for Helbiz?

The purchase indicates Palella's personal commitment to Helbiz's future and potential success.

How much of Helbiz's common stock did Palella acquire?

Palella's purchase represents about 6% of Helbiz's total common stock.

What is Helbiz's business focus?

Helbiz is a leader in micro-mobility services, offering e-scooters, e-bicycles, and more.

How many global licenses does Helbiz have?

Helbiz holds over 40 licenses worldwide for its mobility services.