My Size Shareholders Greenlight Reverse Split, Block Blank Check Preferred

summarizeSummary

My Size shareholders approved a reverse stock split (up to 1:30) to address Nasdaq's minimum bid price requirement, but rejected a blank check preferred stock authorization. The split is a necessary move for the struggling company, which faces a going-concern warning and limited cash.

check_boxKey Events · Corporate Governance and Compliance · MYSZ

• Reverse Stock Split Approved

  A reverse stock split at a ratio between 1-for-2 and 1-for-30 was approved by shareholders, with 1,747,285 votes for (86.4% of votes cast). The board now has discretion to implement the split by July 21, 2027 to regain Nasdaq's $1 minimum bid price compliance.

• Blank Check Preferred Stock Rejected

  Proposal 4 to authorize blank check preferred stock failed, receiving only 1,025,885 votes for (50.7% of outstanding shares), short of the required majority. This limits the board's ability to issue preferred stock for financing or defensive purposes.

• Director Elections and Other Proposals

  Class II directors Oron Branitzky and Guy Zimmerman were elected. The say-on-pay advisory vote and auditor ratification both passed with strong support.

• Nasdaq Compliance Lifeline

  With the stock trading at $0.41 and a going-concern warning in place, the reverse split is essential to avoid delisting. The company must execute the split and sustain a higher share price to remain listed.

auto_awesomeAnalysis · MYSZ · Technology

Today's annual meeting delivered a crucial lifeline: shareholders approved a reverse stock split of up to 1-for-30, a move essential for regaining Nasdaq compliance and staving off delisting amid a sub-$1 share price and a going-concern warning. At the same time, a proposal to authorize blank check preferred stock failed, which curtails the board's future financing flexibility. While the split approval offers a path forward, the company's deep losses and cash crunch mean sustained compliance is far from assured.