AIRPORT CITY, Israel,
Nov. 18, 2019 /PRNewswire/ -- My
Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE:
MYSZ), the developer and creator of smartphone measurement
solutions, announced that its Board of Directors has approved a
one-for-fifteen reverse stock split of its common stock that is
scheduled to become effective after trading closes on November 18, 2019. Beginning on November 19, 2019, the Company's common stock
will trade on the Nasdaq Capital Market on a split adjusted basis
under a new CUSIP number 62844N 208. The Company's common stock
will continue to trade on the Nasdaq Capital Market under the
symbol "MYSZ." As previously disclosed, at the My Size Annual
Meeting of Stockholders held on August 5,
2019, the Company's stockholders approved a proposal
authorizing the Company's Board of Directors, among other things,
to effect a reverse stock split at a ratio in the range of 1-for-2
and 1-for-30 in order to increase the per share price and bid price
of the Company's common stock to regain compliance with the
continued listing requirements of Nasdaq and make the common stock
more attractive to certain institutional investors, which would
provide for a stronger investor base.
Upon effectiveness of the reverse stock split, every 15 shares
of the Company's outstanding common stock will be converted to one
share of common stock. In addition, a proportionate adjustment will
be made to the per share exercise price and the number of shares
issuable upon the exercise of all outstanding options and warrants
entitling the holders to purchase common stock.
The reverse stock split will not affect any stockholder's
ownership percentage of the Company's common stock, except to the
extent that the reverse stock split would result in any stockholder
owning a fractional share. Fractional shares of common stock will
be rounded up to the nearest whole share. The number of
authorized shares of the Company's common stock will not change,
while the number of outstanding shares will be reduced from
approximately 30 million to approximately 2 million.
Registered stockholders holding their shares of common stock in
book-entry or through a bank, broker or other nominee form do not
need to take any action in connection with the reverse stock split.
For those stockholders holding physical stock certificates, the
Company's transfer agent, VStock Transfer, LLC, will send
instructions for exchanging those certificates for new certificates
representing the post-split number of shares. VStock Transfer, LLC
can be reached at (212) 828-8436.
Additional information about the reverse stock split can be
found in the Company's definitive proxy statement filed with the
Securities and Exchange Commission on July
8, 2019, a copy of which is also available at
www.sec.gov or at https://www.mysizeid.com/ under the SEC
Filings tab located on the Investor Relations page.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique
measurement technology based on sophisticated algorithms and
cutting-edge technology with broad applications including the
apparel, e-commerce, DIY, shipping and parcel delivery
industries. This proprietary measurement technology is driven
by several algorithms which are able to calculate and record
measurements in a variety of novel ways. To learn more about My
Size, please visit our website: www.mysizeid.com. We routinely
post information that may be important to investors in the Investor
Relations section of our website. Follow us
on Facebook, LinkedIn, Instagram and Twitter.
Please click here for a demonstration of how MySizeID
provides a full sizing solution for the retail industry.
Register here for a one-month free trial of MySizeID
solution for your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for
Android.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words "could," "believe,"
"anticipate," "intend," "estimate," "expect," "may," "continue,"
"predict," "potential," "project" and similar expressions that are
intended to identify forward-looking statements. All
forward-looking statements speak only as of the date of this press
release. You should not place undue reliance on these
forward-looking statements. Although we believe that our plans,
objectives, expectations and intentions reflected in or suggested
by the forward-looking statements are reasonable, we can give no
assurance that these plans, objectives, expectations or intentions
will be achieved. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from historical experience and present expectations or projections.
Actual results to differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. Forward-looking statements also
are affected by the risk factors described in the Company's filings
with the U.S. Securities and Exchange Commission. Except as
required by law, we undertake no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events.
Israel Press Contact:
Yaniv Leibovich
Leibovich Media
yanivleib@gmail.com
+972-54-444-0326
U.S. Press Contact:
5W Public Relations
mysizeid@5wpr.com
IR Contact:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: MYSZ@crescendo-ir.com
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SOURCE My Size Inc.