Electric scooter operator Helbiz and GreenVision Acquisition announced completion of their merger.
Helbiz is expected to begin trading today on the Nasdaq under HLBZ for common stock and HLBZW for warrants.
The transaction resulted in approximately $24.5 million of gross cash proceeds, before deducting investment banking fees and other transaction-related expenses. This funding will allow Helbiz to expand its micro-mobility services into more cities throughout the United States and Europe, including smaller cities that are underserved by public transportation.
Announced in February, the transaction values the combined company at an estimated equity value of approximately $408 million.
Helbiz currently operates e-scooters, e-bicycles and e-mopeds in over 30 cities around the world.
GreenVision last year terminated merger talks with Accountable Healthcare America, after AHA failed to salvage its planned purchase of three medical companies. Read more.
