Minim, Inc. Stockholders Approve 1-for-100 Reverse Stock Split
Ticker: FIEE · Form: 8-K · Filed: Mar 1, 2024 · CIK: 1467761
Sentiment: neutral
Topics: reverse-stock-split, board-of-directors, shareholder-meeting
TL;DR
Minim shareholders OK'd a 1-for-100 reverse split, new directors added.
AI Summary
On February 26, 2024, Minim, Inc. filed an 8-K report detailing a special meeting of stockholders held on February 23, 2024. The primary purpose of this meeting was to vote on a proposed reverse stock split of the company's common stock, with a ratio of 1-for-100. The company also announced the election of two new directors, David R. Johnson and Robert J. W. Johnson, to its Board of Directors.
Why It Matters
The approval of a reverse stock split is often a precursor to meeting stock exchange listing requirements or making the stock more attractive to institutional investors.
Risk Assessment
Risk Level: medium — Reverse stock splits can sometimes signal underlying financial distress or a need to boost share price to avoid delisting, though they can also be a strategic move.
Key Numbers
- 1-for-100 — Reverse Stock Split Ratio (Approved by stockholders to consolidate shares.)
Key Players & Entities
- Minim, Inc. (company) — Registrant
- David R. Johnson (person) — Newly elected director
- Robert J. W. Johnson (person) — Newly elected director
- 1-for-100 (dollar_amount) — Reverse stock split ratio
FAQ
What was the primary purpose of the special meeting of stockholders held on February 23, 2024?
The primary purpose was to vote on a proposed reverse stock split of the company's common stock at a ratio of 1-for-100.
Who were the newly elected directors to Minim, Inc.'s Board of Directors?
David R. Johnson and Robert J. W. Johnson were elected as new directors.
When was the special meeting of stockholders held?
The special meeting was held on February 23, 2024.
What is the approved ratio for the reverse stock split?
The approved ratio for the reverse stock split is 1-for-100.
What is Minim, Inc.'s principal executive office address?
Minim, Inc.'s principal executive office is located at 848 Elm Street, Manchester, NH 03101.
Filing Stats: 810 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-03-01 10:39:17
Key Financial Figures
- $0.01 — on which registered Preferred Stock, $0.01 par value MINM The Nasdaq Capital M
Filing Documents
- form8-k.htm (8-K) — 41KB
- ex3-1.htm (EX-3.1) — 9KB
- ex99-1.htm (EX-99.1) — 2KB
- ex3-1_001.jpg (GRAPHIC) — 131KB
- ex3-1_002.jpg (GRAPHIC) — 314KB
- ex3-1_003.jpg (GRAPHIC) — 333KB
- ex3-1_004.jpg (GRAPHIC) — 558KB
- ex3-1_005.jpg (GRAPHIC) — 484KB
- ex3-1_006.jpg (GRAPHIC) — 568KB
- ex3-1_007.jpg (GRAPHIC) — 597KB
- ex3-1_008.jpg (GRAPHIC) — 653KB
- ex3-1_009.jpg (GRAPHIC) — 669KB
- ex3-1_010.jpg (GRAPHIC) — 585KB
- ex3-1_011.jpg (GRAPHIC) — 484KB
- ex3-1_012.jpg (GRAPHIC) — 517KB
- ex3-1_013.jpg (GRAPHIC) — 453KB
- ex99-1_001.jpg (GRAPHIC) — 322KB
- ex99-1_002.jpg (GRAPHIC) — 65KB
- 0001493152-24-008421.txt ( ) — 9498KB
- minm-20240226.xsd (EX-101.SCH) — 3KB
- minm-20240226_lab.xml (EX-101.LAB) — 33KB
- minm-20240226_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MINIM, INC. Date: March 1 , 2024 By: /s/ Jeremy Hitchcock Jeremy Hitchcock Chief Executive Officer