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Helbiz Meets Nasdaq Market Value of Listed Securities Requirement
Rhea-AI Impact
(High)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Helbiz (NASDAQ: HLBZ) has regained compliance with Nasdaq's market value requirements for listed securities after receiving a letter on March 7, 2023. This follows a prior notice in June 2022 indicating non-compliance due to the market value of its Class A Common Stock, along with publicly traded warrants, falling below $35 million for ten consecutive business days. CEO Salvatore Palella expressed satisfaction with this achievement, highlighting its importance for the company. Helbiz is recognized as a leader in micromobility services, operating various vehicle types and holding over 65 licenses globally.
Positive
Regained compliance with Nasdaq's market value of listed securities requirement.
CEO Salvatore Palella emphasizes the importance of this compliance achievement for business operations.
Negative
Previous non-compliance with Nasdaq's market value requirement in June 2022.
NEW YORK--(BUSINESS WIRE)--
Helbiz (NASDAQ: HLBZ), a global leader in micromobility services, is pleased to announce that it has regained compliance with the Nasdaq’s market value of listed securities requirements.
Helbiz is a global leader in micromobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles, e-mopeds all on one convenient, user-friendly platform with over 65 licenses in cities around the world. The merger with Wheels, a leading player in California, adds an unique sit-down scooter along with long-term rental subscriptions for individuals, businesses and universities. Helbiz uses a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. For additional information, please visit www.helbiz.com. (Photo: Business Wire)
In June 2022, Helbiz, received written notice from the Nasdaq that it did not comply with Nasdaq’s requirement the market value of its Class A Common Stock together with its publicly traded warrants exceed $35 million or more for ten consecutive business days (the “Market Value of Listed Securities Requirement”). Helbiz discussed this matter with the Nasdaq Hearing Panel in February 2023, and the Hearing Panel required Helbiz to regain compliance with the Market Value of Listed Securities Requirement. On March 7, 2023, Helbiz received a letter from Nasdaq stating that it has regained compliance with the Market Value of Listed Securities Requirement.
"We are pleased to have regained compliance with Nasdaq’s market value of listed securities requirement," said Salvatore Palella, CEO of Helbiz. "This is an important step for the Company, and we will continue to work hard to meet all of Nasdaq’s listing requirements."
About Helbiz
Helbiz is a global leader in micromobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles, e-mopeds all on one convenient, user-friendly platform with over 65 licenses in cities around the world. The merger with Wheels, a leading player in California, adds an unique sit-down scooter along with long-term rental subscriptions for individuals, businesses and universities. Helbiz uses a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. 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, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and its Quarterly Reports for the first three quarters of 2022. 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.
