GRNV - Micro-mobility startup Helbiz to go public via merger with SPAC

SPAC GreenVision Acquisition (GRNV) soars 14% after-hours on merger with Helbiz, a technology company that offers micro-mobility solutions. The transaction will introduce Helbiz as a Nasdaq-listed public company.The combined company will retain the corporate name Helbiz and will be listed under the new ticker symbol, “HLBZ”, upon closing of the business combination in Q2.Helbiz will have ~$80M in cash, resulting in an estimated equity value of ~$408M, assuming no redemptions by GreenVision stockholders and completion of the PIPE, following transaction close.Cash proceeds will be used to fund operations, support growth, repay debt and for general corporate purposes.The proceeds will be funded through a combination of GreenVision’s ~$57.5M cash in trust account and the proposed $30M PIPE.Existing Helbiz shareholders will be rolling 100% of their equity into the combined company.Helbiz has distinguished itself as the only company to offer e-scooters, e-bicycles, and e-mopeds all on one user-friendly platform, and is committed to being 100%

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Micro-mobility startup Helbiz to go public via merger with SPAC