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Helbiz, a micro-mobility leader, and GreenVision Acquisition Corp. (Nasdaq: GRNV) announced a significant step in their merger process. They have executed subscription agreements for a fully committed PIPE of $30 million, led by existing shareholders. This financing is priced at $10 per unit, helping to create a total equity investment of $87.5 million upon closing, aimed at fueling post-merger growth. The merger, subject to GreenVision shareholder approval, is expected to finalize in Q2 2021.
Helbiz, a micro-mobility leader and target of GreenVision Acquisition Corp. (Nasdaq: GRNV), has launched a fleet of 400 e-scooters in Palermo, Sicily, marking the island's first eco-friendly transportation access. With operations in central districts, users can access the e-scooters via the Helbiz app or pay cash through partner establishments. The service costs €1 to unlock and €0.15 per minute, with a subscription option at €29.99 per month for unlimited use. Helbiz aims to reduce traffic congestion and promote sustainable mobility.
GreenVision Acquisition Corp. (Nasdaq: GRNV) has extended its deadline to complete a business combination with Helbiz, Inc. by three months, from February 21, 2021, to May 21, 2021. This decision follows a $575,000 deposit into the Trust Account, funded by Helbiz as per their Merger Agreement dated February 8, 2021. The extension aims to provide additional time to finalize the merger, which is pivotal for GreenVision's future operations and growth in the micro-mobility sector.
GreenVision Acquisition Corp. (Nasdaq: GRNV) announced a definitive agreement to merge with Helbiz, Inc., a technology company specializing in micro-mobility solutions. This transaction, expected to close in Q2 2021, will result in Helbiz becoming a Nasdaq-listed public company under the ticker symbol 'HLBZ' and reflects an estimated equity value of $408 million. The merger aims to capitalize on the growing micro-mobility market, projected to reach $300 to $450 billion by 2030. Helbiz's diverse fleet includes e-scooters, e-bicycles, and e-mopeds, positioning it for growth.
