GreenBox Provides Update as to First Record Date of Special Dividend Series
August 12 2021 - 4:05PM
GreenBox POS (NASDAQ: GBOX) ("GreenBox" or the "Company"), an
emerging financial technology company leveraging proprietary
blockchain security to build customized payment solutions today
issued an update to its previously announced plans to implement a
special dividend series based on the public offering of a spinoff
company (a “SpinCo”) related to its new smart contract technology
business, branded as Coyni. In line with its previous announcement,
the Company expects there to be two possible opportunities for
shareholders of record of GreenBox to be awarded shares
representation in the SpinCo.
The Company previously announced that
shareholders of record of GreenBox common shares on or about August
16, 2021 would receive 0.30 shares representation in the SpinCo for
each share of GreenBox common stock held. However, as the Company
is still analyzing optimal strategies and record dates related to
the special dividend series, the first record date is postponed and
will not be on August 16th. The Company has committed to announcing
the first record date at least ten (10) calendar days prior to its
implementation.
About GreenBox POS
GreenBox POS (NASDAQ: GBOX) is an emerging
financial technology company leveraging proprietary blockchain
security to build customized payment solutions. The Company's
applications enable an end-to-end suite of turnkey financial
products with fraud detection technology, improving the efficiency
of handling large-scale commercial processing volumes for its
merchant clients. For more information, please visit the Company's
website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. All forward-looking statements are inherently uncertain as
they are based on current expectations and assumptions concerning
future events or future performance of the Company. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the
date hereof. In evaluating such statements, prospective investors
should review carefully various risks and uncertainties identified
in this release and matters set out in the Company's SEC filings.
The forward-looking events and circumstances discussed in this
release may not occur and could differ materially as a result of
known and unknown risk factors and uncertainties affecting the
Company and the SpinCo, including risks regarding the ability of
and the SpinCo to raise necessary equity capital, the Company's
continued listing on Nasdaq, receipt of required regulatory
approvals and consents, risks related to the payment processing,
financial technology, and the blockchain industries, market
operational activities, and management's ability to manage and to
operate the business of the Company and the SpinCo and the
transactions described in this release. These risks and
uncertainties could cause the Company's actual results to differ
materially from those indicated in the forward-looking
statements.
Investor Relations ContactMark SchwalenbergMZ
Group - MZ North
America312-261-6430GBOX@mzgroup.uswww.mzgroup.us
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