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 the Company has received $7,284,318.50 from shareholders exercising 633,419 warrants at $11.50 per share (“Warrants”). The original warrants were part of a Private Placement financing with a total of 7,850,000 warrants exercisable at $11.50 per share. The current exercises have reduced the remaining warrants to be exercised to 7,216,581 warrants.
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Helbiz Receives $7.2 Million From the Exercise of Warrants – Purchases 2,500 E-mopeds With the Proceeds (Graphic: Business Wire)
The Company has used the proceeds from the exercise of the Warrants to purchase 2,500 e-mopeds: 2,000 of which will be used to support our current Italian cities and expand our European presence into other countries. The remaining 500 e-mopeds will be used for new markets in the U.S. “I am very excited that our shareholders have directly contributed to our ability to expand our current and future markets” said Salvatore Palella, Founder and Chief Executive Officer of Helbiz. “We believe that this is only the beginning of warrant exercises and anticipate many more to come. Our plan is to continue focusing those proceeds on aspects of our business that maximize our bottom line.”
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.