Business Context and Reporting Period
This Form 8-K Current Report was filed by My Size, Inc. (Nasdaq: MYSZ) on April 15, 2024. The report details the results of a Special Meeting of Stockholders held on the same date and the subsequent Board approval of a reverse stock split.
Key Financial Metrics
This filing is a corporate action report and does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The filing text does not provide a clear value for these items.
Material Changes
- Reverse Stock Split Approval: The Board approved a 1-for-8 reverse stock split of the Company's issued and outstanding common stock.
- Effective Date: The split will become effective at 5:00 p.m. Eastern Time on April 19, 2024.
- Trading Resumption: Common stock will begin trading on a split-adjusted basis on April 23, 2024, under the symbol "MYSZ."
- Fractional Shares: Any fractional shares resulting from the split will be rounded up to the next whole number.
- Derivative Adjustments: Per share exercise prices and share counts for outstanding options and warrants will be proportionately adjusted.
- CUSIP Change: The new CUSIP number for the common stock will be 62844N 406.
Guidance, Outlook, and Voting Results
The filing does not provide forward-looking guidance, management commentary on financial outlook, or specific risk factors beyond the corporate action itself. However, it details the voting results from the Special Meeting where 2,448,608 shares were represented:
- Proposal 1 (Discretionary Authority for Reverse Split): Approved with 1,730,117 votes For, 715,358 Against, and 3,133 Abstentions.
- Proposal 2 (Adjournment Authority): Approved with 1,856,595 votes For, 587,730 Against, and 4,283 Abstentions.
Investor Verification Checklist
- Verify the effective date of the 1-for-8 reverse stock split (April 19, 2024).
- Confirm the resumption of trading on a split-adjusted basis on April 23, 2024.
- Check the new CUSIP number (62844N 406) for trading and settlement purposes.
- Review the treatment of fractional shares (rounded up to the next whole number).
- Confirm adjustments to outstanding options and warrants exercise prices and quantities.