Helbiz (HLBZ) Announces Effectiveness of Registration Statement

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 its registration statement on Form S-1 (“Registration Statement”) was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 28, 2021 registering: (i) the resale of up to 2,650,000 shares of Class A Common Stock (the “Class A Common Stock”) held by PIPE investors; (ii) the resale of up to 2,650,000 shares of Class A Common Stock underlying warrants held by the PIPE investors at an exercise price of $11.50 per share; and (iii) 5,750,000 shares of Class A Common Stock issuable upon the exercise of the public warrants (HLBZW) at $11.50 per share. We expect the public warrants to be exercisable over the next couple of days once DTC and our transfer agent have completed the set-up process.

As a result of the effectiveness of the Registration Statement and based on discussions with Nasdaq, the Company believes that it has regained compliance with Nasdaq’s initial listing requirements of a $15 million free trading public float and 1 million free trading shares in the public float. The Company is awaiting confirmation from Nasdaq that it has achieved compliance.

“We are excited to have met the initial listing requirements of Nasdaq and continue to believe Helbiz is a category defining and market leading business capable of driving significant shareholder value,” said Salvatore Palella, CEO of Helbiz.

This press release does not constitute an offer or sale of, or the solicitation of an offer to buy, securities of the Company nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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