Palella Holdings acquires 51% stake in micromobility’s common stock

Micromobility is pleased to announce a strategic acquisition by Palella Holdings . On June 10 Palella Holdings acquired 51% of micromobility.com Inc.’s common stock, traded on the OTC pink sheets. This acquisition involved converting $705,441.98 of the principal amount of a convertible note issued by micromobility.com Inc. on January 31, . This conversion resulted in the issuance of 47,029,465 shares of common stock to Palella Holdings at a conversion price of 1.5c per share, which was one tenth of a cent above the closing price of MCOM common stock on June 10, 2024. Palella Holdings is a related party as it is controlled by our Chief Executive Officer. micromobility.com Inc. is committed to working closely with Palella Holdings o foster growth, enhance operational efficiencies, and drive long-term value for all stakeholders.