• Mawson Infrastructure Group Inc. (MIGI) announced the results of its stockholder vote in respect of its reverse stock split.
• Stockholders voted in favor of the 1 for 6 reverse stock split, and a related resolution to reduce Mawson’s authorized common stock from 120,000,000 shares to 90,000,000 shares.
• It is expected that Mawson shares will trade on a post-reverse stock split adjusted basis on and from February 9, 2023.
Mawson Infrastructure Group Inc. Announces Results of Reverse Stock Split Vote
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) („Mawson“ or the „Company“), a digital infrastructure provider, announced today the results of its stockholder vote in respect of its reverse stock split. Stockholders voted in favor of the 1 for 6 reverse stock split, and a related resolution to reduce Mawson’s authorized Common Stock from 120,000,000 shares to 90,000,000 shares. Of the stockholders who voted, more than 99% of the shares voted were voted in favor of the resolutions with over 68% of shares participating in the vote.
Expected Date Share Trading will Begin
It is expected that Mawson shares will trade on a post-reverse stock split adjusted basis on and from February 9th 2023.
Commentary From CEO James Manning
James Manning commented,“Stockholder support for the proposal was strong especially considering the time of year that we undertook this split.“ He further stated his appreciation to those who took their time to vote and added that with this result they can look forward into 2023 confidently with their new authorized capital structure and expectation that it won’t have any meaningful impact on their liquidity.
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider with multiple operations throughout both USA and Australia. Their vertically integrated model focuses on promoting global transition to digital economy by matching sustainable energy infrastructure with next-generation Mobile Data Center solutions which enable low cost Bitcoin production and deployment of other infrastructural assets as well as share holder returns .
Nasdaq Listing Rules Threshold Minimum Bid Price Requirement
It is anticipated that after reverse stock split the Mawson stocks price will meet Nasdaq listing rules threshold minimum bid price requirement which essentially requires listed company’s stocks prices remain above $1 .