SEC Form SC 13G filed by Helbiz Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

Helbiz, Inc.

(Name of Issuer)

Class A Common Stock with a par value $0.00001 per share

(Title of Class of Securities)

42309B204

(CUSIP Number)

January 24, 2023

(Date of Event, which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨       Rule 13d-1(b)

x       Rule 13d-1(c)

¨       Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information, which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act out shall be subject to all other provisions of the Act, (however, see the Notes).

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

CUSIP No. 42309B204

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

Item 1.

Helbiz, Inc

32 Old Slip

New York, NY 10005

YA II PN, Ltd.

1012 Springfield Ave.

Mountainside, NJ 07092

Cayman Islands

Class A Common Stock, with a par value $0.00001 per share

42309B204

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

* 25,258,741 shares consisting of the direct ownership of 0 shares of Class A Common Stock plus the deemed ownership of 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

** Calculation based on 252,840,253 outstanding shares of the issuer’s Class A Common Stock, consisting of 227,581,512 shares of Class A Common Stock outstanding as of the date of this report and an additional 25,258,741 shares of Class A Common Stock that the reporting person has the right to acquire within 60 days of the date of the report.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨.

The reporting persons directly or indirectly own an aggregate of 25,258,741 or 9.99%, of the Class A Common Stock of the issuer as of the date of this filing. YA II and the other reporting persons shared the power to vote and dispose any such shares of Class A Common Stock.

Direct beneficial ownership of such Class A Common Stock by the reporting persons is as follows (and therefore excludes any shares of Class A Common Stock indirectly held by such person or any securities, such as warrants, which may be exercised or converted into Class A Common Stock of the issuer):

Indirect beneficial ownership: YA II PN, Ltd. (“YA II”) entered into a Standby Equity Purchase Agreement (“SEPA”) with the issuer dated as of January 24, 2023. Under the SEPA, the issuer has the option to sell shares of its Class A Common Stock to YA II, and YA II is obligated to purchase such shares, at a price and on the terms and subject to the conditions set forth in the SEPA. Under the SEPA, the issuer is prohibited from selling shares to YA II to the extent that it would cause the aggregate number of shares of Class A Common Stock beneficially owned by YA II and its affiliates to exceed 9.99% of the outstanding shares of Class A Common Stock of the issuer.

On August 9, 2022, YA II acquired a convertible debenture from the issuer in the principal amount of $3,000,000 (“Convertible Debenture 1”), on August 23, 2022, YA II acquired a convertible debenture from the issuer in the principal amount of $5,000,000 (“Convertible Debenture 2”), and on September 9, 2022, YA II acquired a convertible debenture from the issuer in the principal amount of $2,500,000 (“Convertible Debenture 3,” and collectively with Convertible Debenture 1 and Convertible Debenture 2, the “Convertible Debentures”). Subject to certain limitations set forth in the Convertible Debentures, at anytime on or after their respective issuance dates and so long as the Convertible Debentures remain outstanding, YA II may convert all or part of the Convertible Debentures into Class A Common Stock at a conversion price equal to the lower of (i) $0.50 or (ii) 92.5% of the lowest daily volume weighted average price of the Class A Common Stock during the five consecutive trading days preceding the applicable conversion date, but in no event lower than $0.25 per share. As of the date of this filing, there is $3,000,000 of principal plus accrued and unpaid interest outstanding under Convertible Debenture 1, there is $5,000,000 of principal plus accrued and unpaid interest outstanding under Convertible Debenture 2, and there is $1,250,000 of principal plus accrued and unpaid interest outstanding under Convertible Debenture 3.

On August 12, 2021, YA II acquired a warrant from the issuer to purchase up to 300,000 of the issuer Class A Common Shares (“Warrant 1”), which is exercisable at a price of $11.50 per share, on October 13, 2021, YA II acquired a warrant from the issuer to purchase up to 1,000,000 of the issuer Class A Common Shares (“Warrant 2”), which is exercisable at a price of $3.00 per share, on October 15, 2022, YA II acquired a warrant from the issuer to purchase up to 500,000 of the issuer Class A Common Shares (“Warrant 3”), which is exercisable at a price of $3 per share, and on August 24, 2022, YA II acquired a warrant from the issuer to purchase up to 500,000 of the issuer Class A Common Shares (“Warrant 4”), which is exercisable at a price of $11.50 per share (“Warrant 4” and collectively with Warrant 1, Warrant 2, and Warrant 3, the “Warrants”). AS of the date of this filing, all of the Warrants referenced above remain outstanding.

Under the terms and conditions of the Convertible Debentures and the Warrants YA II is prohibited from acquiring shares of Class A Common Stock to the extent that it would cause the aggregate number of shares of Class A Common Stock beneficially owned by YA II and its affiliates to exceed 4.99% of the shares of Class A Common Stock of the issuer, after giving effect to any such conversion or exercise.

In addition to the direct beneficial ownership set forth above, each reporting person is also deemed to be the indirect beneficial owner of additional shares of Class A Common Stock that YA II may acquire under the SEPA, the Convertible Debentures, and the Warrants within 60 days of the date of this filing such that each reporting person is deemed to be the indirect beneficial owner of an additional 25,258,741 shares of Class A Common Stock.

Below is a description of the relationship among the reporting persons:

YA II PN, Ltd. (“YA II”) is beneficially owned by YA Global Investments II (U.S.), LP (the “YA Feeder”). Yorkville Advisors Global, LP (the “YA Advisor”) is the investment manager to YA II. Yorkville Advisors Global II, LLC (the “YA Advisor GP”) is the general partner to the YA Advisor. YAII GP, LP (the “YA GP”) is the general partner to the YA Feeder. YAII GP II, LLC (the “Yorkville GP”) is the general partner to the YA GP. Mark Angelo makes the investment decisions on behalf of YA II. Accordingly, each of YA II, YA Feeder, the YA Advisor, the YA Advisor GP, the YA GP, the Yorkville GP and Mark Angelo may be deemed affiliates and therefore may be deemed to beneficially own the same number of Class A Common Shares of the issuer.

SC-Sigma Global Partners, LP (“SC-Sigma”) is beneficially owned by YA II GP, LP. YAII GP II, LLC is the general partner of YA II GP, LP. The YA Advisor is the investment manager to SC-Sigma. Accordingly, SC-Sigma, the YA GP, the Yorkville GP, the YA Advisor, and Mark Angelo may be deemed affiliates and therefore may be deemed to beneficially own the same number of shares of Common Stock.

For purposes of this filing, each of the reporting persons is deemed an affiliate of each other reporting person.

Not Applicable

See Item 6.

Not Applicable

By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as participant in any transaction having that purpose or effect.

Additional Information:

Each Reporting Person disclaims beneficial ownership of any securities beneficially owned by each other Reporting Person, and its report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of these securities for the purpose of Section 16 or for any other purpose.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement in true, complete and correct.

Dated: January 30, 2023