micromobility.com sells Wheels Labs for $1.00 to Overseas Moped Investment

micromobility.com Inc.

Purchase price is $1.00; buyer assumes all assets, liabilities, IP, and future loss contingencies.
Strategic divestiture to focus on core operations and growth opportunities.
Sale of wholly-owned subsidiary Wheels Labs, Inc. signed August 19, 2024.
Agreement includes customary reps, warranties, and termination provisions.
CEO Salvatore Palella says transaction streamlines business and refocuses on value creation.

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