Palella: “I have always stated that the reverse split would be our last option of choice.” NEW YORK–(BUSINESS WIRE)–Helbiz, Inc. (NASDAQ: HLBZ), a leading global provider of electric shared micro-mobility solutions, announced today that it has filed a proxy statement with the Securities and Exchange Commission (the “SEC”) to hold a special meeting of stockholders to seek approval for a reverse stock split of the Company’s Class A common stock. The reverse stock split is intended to bring the Company into compliance with the minimum $1 bid price requirement for maintaining its continued listing on Nasdaq. The reverse stock split is being considered by the Company if its stock price does not appreciate beyond $1.00 by the necessary time to do so. However, the Board of Directors reserves the right to delay or abandon the reverse stock split if it determines that it is no longer necessary to regain compliance for Nasdaq’s minimum bid price. Salvatore Palella, CEO of Helbiz, said: “I have always stated that the reverse split would be our last option of choice. We remain confident that we will be able to bring additional value to the Company and fulfill Nasdaq requirements through our strategic growth […]
Helbiz Provides Transparency on Filed Proxy Statement
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