micromobility.com Inc. Files 8-K: Agreements, Officer Changes

TL;DR

MCOM 8-K: New deals struck, execs out, new ones in. Big changes afoot.

AI Summary

On December 9, 2024, micromobility.com Inc. announced a material definitive agreement related to its operations. The company also reported the departure of directors or certain officers, the election of new directors, and adjustments to compensatory arrangements for certain officers. The filing includes financial statements and exhibits.

Why It Matters

This 8-K filing indicates significant corporate actions, including new agreements and changes in leadership, which could impact the company's strategic direction and operational stability.

Risk Assessment

Risk Level: medium — Changes in directors and officers, coupled with new material agreements, suggest potential shifts in strategy or financial health that warrant closer investor scrutiny.

Key Players & Entities

• micromobility.com Inc. (company) — Registrant
• December 9, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 500 Broome Street, New York (address) — Business Address

FAQ

Key Financial Figures

• $3,447,000 — greement consisted of (i) approximately $3,447,000 under a convertible promissory note in
• $4,000,000 — ote in the original principal amount of $4,000,000 that was issued pursuant to a a Standby
• $5,750,000 — d March 8, 2023, and (ii) approximately $5,750,000 owed pursuant to a Loan and Security Ag

Filing Documents

• mcom_8k.htm (8-K) — 27KB
• ex10x1.htm (EX-10.1) — 51KB
• image_005.gif (GRAPHIC) — 1KB
• image_006.gif (GRAPHIC) — 1KB
• image_013.jpg (GRAPHIC) — 3KB
• 0001079973-24-001679.txt ( ) — 263KB
• mcom-20241209.xsd (EX-101.SCH) — 3KB
• mcom-20241209_lab.xml (EX-101.LAB) — 33KB
• mcom-20241209_pre.xml (EX-101.PRE) — 24KB
• mcom_8k_htm.xml (XML) — 3KB

01 Entry into a

Item 1.01 Entry into a Material Definitive Agreement. On December 9, 2024, we entered into an Assignment and Release Agreement with YA II PN, Ltd. and Palella Holdings, LLC. Pursuant to that Agreement, we consented to the transfer of all debt that we owed YA II PN, Ltd. from YA II PN Ltd. to Palella Holdings, LLC. Palella Holdings, LLC is a related party as its majority shareholder is Salvatore Palella who until recently was our Chief Executive Officer and one of our directors and who remains as our controlling shareholder. The debt that was transferred pursuant to the Assignment and Release Agreement consisted of (i) approximately $3,447,000 under a convertible promissory note in the original principal amount of $4,000,000 that was issued pursuant to a a Standby Equity Purchase Agreement, dated March 8, 2023, and (ii) approximately $5,750,000 owed pursuant to a Loan and Security Agreement, dated as of March 23, 2021 (as amended on December 8, 2023, the "Loan Agreement").

02 Departure of Directors or Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 9, 2024, Salvatore Palella resigned as our Chief Executive Officer and as a director of our board of directors. Mr. Palella no longer holds a position with our company. Such resignations did not result from a disagreement with our Company, its directors, its management, its counsel or its independent public accountants. On December 9, Gian Luca Spriano was appointed as our Chief Executive Officer and as a director of our board of directors. Mr. Spriano has served as our Chief Financial Officer from December 2023. He previously served us as Head of Business Development starting from July 2018. He was focusing on building our brand awareness in Europe, the United States and Canada while simultaneously driving the individual city application initiatives and serving as the point for government relations. He is also involved in other companies where Mr. Palella has the majority equity interest, such as Palella Holdings LLC where he served as the Chief Financial Officer and Everli S.p.A. where he served as Chairman. Prior to joining us, Mr. Spriano worked in the Executive Office of the Secretary General at the UN, collaborating with the Climate Action Team and the Sustainable Development Unit, and directly supporting the Secretary General and his climate change initiatives. Mr. Spriano received his J.D. in International European Law from the University of Turin and an LLM in International Financial Law. Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 Assignment and Release Agreement, dated December 9, 2024, among the Company, YA II PN, Ltd. and Palella Holdings, LLC 104 Cover page of this Current Report on Form 8-K formatted in Inline XBRL SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly

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View this 8-K filing on SEC EDGAR