GreenVision and Helbiz Announce $30 Million PIPE Financing

NEW YORK--(BUSINESS WIRE)--Helbiz, Inc. (“Helbiz”), a global micro-mobility leader, and GreenVision Acquisition Corp. (“GreenVision”, Nasdaq: GRNV), a publicly traded special purpose acquisition company, today provided an update as they move forward with their merger. The companies announced that subscription agreements for a fully committed PIPE of $30 million have been executed. The financing, led by Helbiz’s existing shareholders Copernicus Wealth Management and Finbeauty SRL, is priced at $10 per unit, with a unit comprised of one share and one warrant to purchase one additional share of common stock at the exercise price of $11.50 per share. The PIPE investment is anticipated to close concurrently with the previously announced proposed business combination between Helbiz and GreenVision. Assuming no redemptions by GreenVision’s stockholders of the funds currently held in GreenVision’s trust account, the addition of the PIPE will result in a total equity investment of $87.5 million, which will be used to help fuel growth of the post-merger company. Furthermore, proceeds will not be used to purchase any equity from existing Helbiz shareholders.