NEW YORK–(BUSINESS WIRE)–Helbiz, Inc. (Nasdaq: HLBZ)(“Helbiz” or the “Company”), a leading provider of micro-mobility solutions, today announced that it received notice from the Nasdaq Listing Qualifications Panel (the “Hearings Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) that it has granted the Company an extension to regain compliance with the continued listing requirements for The Nasdaq Capital Market (the “Panel Decision”), as discussed more fully below.
“Helbiz is on the road to progress as evidenced by the Wheels acquisition and the proposed Helbiz Kitchen expansion into the US, and the Company plans to take the steps necessary to regain compliance with all applicable listing requirements.”
The hearing panel granted the company an extension until March 31, 2023, to regain compliance with the Market Value of Listed Securities requirement and to achieve a $1.00 bid price. In the event that the Company regains compliance with those Panel Decision requirements by that date, the Company expects to be afforded a further extension through June 6, 2023, to demonstrate compliance with the Nasdaq annual meeting requirement. In that regard, following its demonstration of compliance with these requirements set forth in the Panel Decision, the Company plans to hold a combined annual meeting for the fiscal years ended December 31, 2021 and 2022, thereby regaining compliance with all applicable requirements for continued listing on The Nasdaq Capital Market.
“We are pleased that the Hearings Panel has provided us with this extension,” said Salvatore Palella, Chief Executive Officer of Helbiz. “Helbiz is on the road to progress as evidenced by the Wheels acquisition and the proposed Helbiz Kitchen expansion into the US, and the Company plans to take the steps necessary to regain compliance with all applicable listing requirements.”
Notwithstanding the foregoing, there can be no assurance that the Company will be able to meet these deadlines or ultimately regain compliance with all applicable requirements for continued listing.
