TELETRADER News
10/25/2021, 2:57 PM (Source: TeleTrader)
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Chart for: Helbiz Inc

Helbiz buys 2,500 mopeds from $7.2M in warrants

Helbiz, Inc. announced on Monday that it received $7.2 million from 633,418 shareholder warrants and that it has used the proceeds to finance the purchase of 2,500 e-mopeds.

"I am very excited that our shareholders have directly contributed to our ability to expand our current and future markets ... 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." declared Salvatore Palella, CEO and founder of the Italian-American intra-urban transport company.

The new e-mopeds will be split across Europe and the United States, with 500 being earmarked for new markets in the US.

Baha Breaking the News (BBN) / IB