Wall Street debut for Helbiz’s scooters. After a gestation that lasted about two years with the CEO Salvatore Palella who had repeatedly pushed the accelerator for the IPO (there was also talk of the possibility of double listing New York and Piazza Affari) the operation went through thanks to the business combination with the listed SPAC GreenVision Acquisition Corp. GreenVision shareholders approved the business combination during an extraordinary meeting held on 11 August 2021.
The combined company will retain the Helbiz name with the new identifying tickers “NASDAQ: HLBZ” for Helbiz common stock and “NASDAQ: HLBZW” for Helbiz warrants.
First exponent of micro-mobility to whiz on Wall Street
The Helbiz IPO does not leave the big financial press indifferent with the Wall Street Journal which talks about the “Scooter War that is coming to the stock market” referring to the debut on the Nasdaq of the micro-mobility company that preceded more well-known competitors such as Bird.
As part of the business combination, Helbiz will have a management team led by CEO Salvatore Palella with the entry into the Board of Directors of a new member, Lee Stern, of the GreenVision team. The remainder of the Board of Directors will be composed of the Group’s Chief Financial Officer, Giulio Profumo and two independent members, Guy Adami and Kim Wilford.
Guy Adami is currently the Advisor Advocacy Director of the Private Advisor Group, made up of approximately 600 financial advisors who manage assets of approximately $ 17 billion. Guy is the lead commentator on CNBC, one of the founders of the show Fast Money.
Kim Wilford is currently General Counsel of GoFundMe, Inc., where she manages the legal and compliance obligations of the largest social fundraising platform in the world.
Not just scooters, there are also Helbiz Kitchen and Helbiz Media
The sharing mobility group benefited from cash inflows of approximately $ 24.5 million from the transaction before deductions for placement agent fees and other offering related expenses. The listing will allow Helbiz to implement its expansion of safe and efficient micromobility services in other cities in Italy, Europe and the United States. At the same time, it will allow the development of activities related to the other business lines of the Group: Helbiz Kitchen with its food delivery services e Helbiz Media with its live streaming services. All accessible through the mobile apps of the Helbiz group.
“Helbiz’s debut at Nasdaq represents an important milestone, not only for our company, but for the entire micro-mobility sector, which is currently growing rapidly – he comments. Salvatore Palella, CEO of Helbiz -. An innovation of mobility, in the name of safety, in support of both public and private services. This allows us to continue to meet the mobility needs of the first and last mile. An innovation that affects all cities in the world and above all has zero impact on the environment. We currently have an international presence in 35 cities, and we study and work to provide the safe and innovative micro-mobility solutions necessary to reduce urban congestion and pollution. We intend to continue investing, particularly in Italy, in relation to safety, creating new jobs and looking for talent. A special thanks goes to the whole Helbiz team, an excellence that works tirelessly to improve our daily life ”.