By Chris Wack

Helbiz Inc. said its registration statement on Form S-1 was declared effective by the U.S. Securities and Exchange Commission.

The company said the statement registers the resale of up to 2.65 million common shares held by investors; the resale of up to 2.65 million shares in underlying warrants held by investors at $11.50 a share; and 5.75 million shares issuable upon the exercise of the public warrants at $11.50 a share.

Helbiz said it expects the public warrants to be exercisable over the next couple of days.

The company said it now believes that it has regained compliance with Nasdaq's initial listing requirements of a $15 million free trading public float and 1 million free trading shares in the public float. The company is awaiting confirmation from Nasdaq that it has achieved compliance.

Helbiz shares were down 32%, to $14.13, in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

09-29-21 0855ET