Current Report Filing (8-k)
August 15 2022 - 7:20AM
Edgar (US Regulatory)
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2022-08-09
2022-08-09
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2022-08-09
2022-08-09
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2022-08-09
2022-08-09
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August
9, 2022
Helbiz, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware |
|
001-39136 |
|
84-3015108 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS. Employer
Identification No.) |
| |
32 Old Slip, New York, NY 10005 |
|
| |
(Address of Principal Executive Offices, and Zip
Code)
|
|
| |
(917) 675-7157 |
|
| |
Registrant’s Telephone Number, Including Area
Code
|
|
| |
|
|
| |
(Former Name or Former Address, if Changed Since Last Report) |
|
Securities registered pursuant to Section 12(b) of
the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Class A Common Stock, $0.00001 par value |
|
HLBZ |
|
The Nasdaq Stock Market LLC |
| Redeemable warrants, each warrant exercisable for one share of Class A Common Stock |
|
HLBZW |
|
The Nasdaq Stock Market LLC |
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐ Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.01 Entry into a Material Definitive Agreement
On August 9, 2022, we entered
into a securities purchase agreement (the “Agreement”) with an accredited investor (the “Debenture Holder”) to
place Convertible Debentures (the “Debentures”) with a maturity date of twelve months after the issuance thereof in the aggregate
principal amount of $3,000,000 (the “Transaction”), provided that in case of an event of default, the Debentures may become
at the Debenture Holder’s election immediately due and payable. The Debentures bear interest at the rate of 5% per annum, provided
that in the event of a default such interest rate increases to 15%.
The Debenture Holder may
convert a Debenture in its sole discretion at any time on or prior to maturity at the lower of $2.00 or 92.5% of the lowest daily VWAPs
during the 5 consecutive trading days immediately preceding the conversion date or other date of determination, provided that as long
as we are not in default under the Debenture, the conversion price may never be less than $0.25 unless lowered by the Company pursuant
to the Agreement. We may not convert any portion of a Debenture if such conversion would result in the Debenture Holder beneficially owning
more than 4.99% of our then issued common stock, provided that such limitation may be waived by the Debenture Holder with 65 days’
notice. The issuances of these shares were made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities
Act and/or Regulation D promulgated thereunder.
Item 3.02 Unregistered
Sale of Equity Securities
As disclosed in the current report on Form 8-K filed
on October 18, 2021, on October 12, 2021, we entered into a securities purchase agreement pursuant to which we issued three convertible
notes in an aggregate principal amount of $30 million (all such notes, the “Convertible Notes”). The first convertible note
for the principal amount of $15,000,000 was issued on October 12, 2021. The second convertible note for the principal amount of $10,000,000
was issued on October 27, 2021. The third convertible note for the principal amount of $5,000,000 was issued on November 10, 2021. From
June 8 to August 8, 2022, the holder of the Convertible Notes converted and received 11,061,606 shares of our Class A common stock
(the “Conversion Shares”). After the conversions, the principal amount of the second and third convertible notes have been
fully converted and retired. The first convertible note has a principal amount of $11,950,000 remaining.
Among the Conversion Shares, 9,365,749 shares of class
A common stock were issued pursuant to the registrations statements on Form S-1 (file no. 333-264496 and file no. 333-265888), which was
declared effective on May 27, 2022, and July 11, 2022; 1,695,857 shares of class A common stock were issued pursuant to the exemption
from registration contained in Section 4(a)(2) of the Securities Act.
Item 9.01 Financial Statements
and Exhibits
The following exhibits are
attached to this Current Report on Form 8-K.
EXHIBIT INDEX
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: August
15, 2022
| |
HELBIZ, INC. |
| |
|
| |
By: |
/s/ Salvatore Palella |
| |
Name:
Title: |
Salvatore Palella
Chief Executive Officer |
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