Helbiz (HLBZ) Enters into an Equity Line of Credit Facility of up to $13.9 million with Yorkville Advisors

Helbiz, Inc. (NASDAQ: HLBZ) (“Helbiz” or the “Company”), a leader in micro-mobility and long-term rentals, today announced that it has entered into a $13.9 million common stock standby equity line purchase agreement (the “Agreement”) with Yorkville Advisors (the “Investor”).

Agreement Highlights:

• Under the terms and conditions of the Agreement, Helbiz has the option, but not the obligation, to issue and sell up to $13.9 million in common equity at the time of Helbiz’s choosing during the term of the agreement, subject to certain limitations
• New shares will be issued to the Investor at a discounted price of 95% of the lowest volume-weighted average price (“VWAP”) for the three consecutive trading days commencing on the trading day following the Company’s submission of an Advance Notice to the Investor to draw upon the facility ​​or, if Helbiz and the Investor agree, at 92.0% of the pricing period set out in the Advance Notice
• The Standby Equity Purchase Agreement will continue for a term of two years

“This equity purchase agreement is evidence of our investor’s confidence in our business model,” said Helbiz CEO and Founder Salvatore Palella. “It is meant to facilitate funding the growth in multiple lines of our businesses, with our focus continuing to be on micro-mobility by expanding our vehicle fleets thereby strengthening our service to existing and new cities. By combining all of the above elements, we hope to reach profitability earlier than we had expected.”

“This financing is to pursue our strategic growth plan as it provides us valuable flexibility and access to capital,” said Giulio Profumo, Chief Financial Officer of Helbiz. “The equity purchase agreement structure provides us with flexibility to continue business investment that creates long-term value. We have the ability to draw from the facility at the time of our choosing during the term of the agreement. While we are not obligated to issue shares or to utilize the full amount under the current facility, the agreement with Yorkville Advisors provides Helbiz a consistent and committed source of capital to fund our growth.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the securities referred to in this news release in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Any offering of Helbiz’s common stock under the resale registration statement referred to in this news release will be made only by means of a prospectus.

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