Electric scooters debut on the stock market. Helbiz, a US company that deals with electric micro-mobility, the development of sharing solutions and new modes of city transport, has announced its intention to land on the Stock Exchange, listing both in New York – on the Nasdaq – and on Aim Italia of the Italian Stock Exchange.
The company is best known for its mobile app that allows users to rent electric scooters to tour the cities and at the beginning of the year she landed in Italy, in Milan. However, the company has also launched pilot programs in Rome, Turin, Florence and Pisa. In the rest of Europe Helbiz is active in Spain, in Malaga, and has planned a development plan in Portugal, Greece, France. However, its growth is international, with programs in Singapore, Georgia and with offices in New York, Milan, Madrid, Belgrade, Singapore and additional operational teams around the world.
“Helbiz, recalls the press release, has created HelbizGO, a free-floating city transport solution integrated within the Helbiz platform: by downloading the Helbiz application from the Google Play Store or the Apple Store, users can geolocate, rent and unlock electric scooters directly with a tap on the phone and leave the vehicles on the sidewalk once the ride is over".
In the context of the IPO, TriPoint Global Equities will play the role of lead managing agent and sole bookrunner for the offering in the United States, while in Italy Intermonte will be lead managing selling agent, together with EnVent Capital Markets, which will act as Nomad . Ortoli Rosenstadt LLP, along with Deloitte Legal, will act as counsel to the firm, while Hunter Taubman Fischer & Li LLC will act as counsel to the underwriter.
Helbiz intends to use the proceeds from the offer “for theexpansion of its fleet of electric scooters, the territorial expansion and the capitalization of the company”, explains the note
“The Helbiz team is focused on the first and last mile problem, especially in heavily trafficked areas, proposing solutions that are already making a difference in many European cities,” he said. Salvatore Palella, founder and CEO of Helbiz. “Our experience in serving these markets is invaluable and allows us to bring value, expertise and services to city administrations and to all those contexts that need to renew their mobility solutions to improve people's quality of life. Our business model and the technologies we use allow us to distinguish ourselves from other companies operating in this sector, generating a positive impact on our entire bottom-line".
