micromobility terminates Serie B broadcast agreements; pays ~€8.8M to exit

micromobility.com Inc.

Terminated non-exclusive rights agreements with League Serie B on June 15, 2023.
Original deals required €12M/year for Italian rights and €2.5M minimum for international.
Company to pay approximately €8.8M in amounts due under the agreements.
Timing of payments still under negotiation with League Serie B.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

micromobility.com Inc. terminated a license with Lega Nazionale Professionisti Serie B valued at approximately €8.8 million (effective 2023-06-15).

Action: termination
Agreement: license
Counterparty: Lega Nazionale Professionisti Serie B
Value: approximately €8.8 million
Effective: 2023-06-15

Exact text from the filing

On June 15, 2023, we agreed with League Serie B that we would immediately terminate our agreements with League Serie B in exchange for paying them amounts due under the agreements of approximately €8.8 million and League Serie B sent us the termination letter on the same date.

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micromobility.com Inc. filing history →

Source: SEC EDGAR

accession 0001553350-23-000387

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