Becker & Poliakoff

Becker Counsels SPAC Client GreenVision In $300M Business Combination with Helbiz, Inc.

Becker Counsels SPAC Client GreenVision In $300M Business Combination with Helbiz, Inc.

Becker & PoliakoffBecker is proud to announce the successful closing of a $300M business combination between its SPAC client GreenVision Acquisition Corporation (“GreenVision”) and Helbiz, Inc. a global leader in micro-mobility services. Corporate team members Jie Chengying Xiu, Michael Goldstein, Steven Glauberman, and Samantha Lesser represented GreenVision during negotiations, which were completed on August 12, 2021.

GreenVision is a NASDAQ traded (NASDAQ: GRNV) special purpose acquisition company or SPAC , with the sole purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Becker’s corporate team also successfully represented the company in its $57,500,000 IPO in November 2019.

Launched in 2015 and headquartered in New York, Helbiz, Inc. offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform in 35 cities around the world. The company utilizes a customized, proprietary fleet management platform, artificial intelligence and environmental mapping to optimize operations and business sustainability. With millions of registered users, Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery, financial services and more.

The business combination and associated PIPE offering enabled Helbiz, Inc. to raise a total of $29.5 million, $21.5 million of which were net proceeds from a private placement of 2,650,000 newly issued ordinary shares, and $5 million of which came in the form of cancelled debt.

I-Bankers Securities Inc. served as financial advisor, and Colliers Securities LLC served as capital markets advisor to GreenVision. Ladenburg Thalmann & Co. Inc. served as financial advisor to Helbiz, Inc.

The combined company started trading on August 13th, under the new name Helbiz, Inc. (NASDAQ:HLBZ).

Becker’s Corporate Practice Group takes pride in becoming part of our clients’ business team. We make it a priority to understand our clients’ operations and strategy, and develop solutions the include a business, legal, and regulatory perspective. The team’s collective expertise includes corporate governance, M&A, employment agreements and executive compensation, broker-dealer and investment advisor regulation, wealth and business preservation, intellectual property, SEC disclosure and securities regulation, SPACs, corporate finance, debt restructuring, bankruptcy, tax controversy, and a host of other financial service industry-related concerns. To learn more about the team and our services, please click here.