Today’s MICT filing of a resale registration statement amendment relates to the registration of a portion of the restricted shares in issue and does not reflect a new issuance of stock
MICT, Inc. (Nasdaq: MICT) has amended its resale registration statement initially filed on December 18, 2020, to clarify that the filing is not for new share issuance.
Sentiment and the balance of points
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Rhea-AI Summary
MICT, Inc. (Nasdaq: MICT) has amended its resale registration statement initially filed on December 18, 2020, to clarify that the filing is not for new share issuance. Instead, it aims to register a portion of currently outstanding restricted shares held by certain stockholders. MICT operates primarily through its subsidiaries in the fintech and telematics sectors, focusing on online brokerage services and mobile computing solutions. The company’s future growth is subject to various risks as outlined in its filings with the SEC.
Positive
- Clarification that the amendment to the registration statement is not for new shares but for currently outstanding restricted shares.
- MICT operates in high-growth sectors, including fintech and telematics.
Negative
- Forward-looking statements carry known and unknown risks, uncertainties, and factors that could materially affect actual results.
Details
News Market Reaction – MICT
The recorded move for MICT in the trading session of this news was +0.47%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONTVALE, N.J., Jan. 29, 2021 (GLOBE NEWSWIRE) -- Today MICT, Inc. (Nasdaq: MICT) (“MICT” or the “Company”) filed an amendment to the resale registration statement filing made on Friday, December 18, 2020. The Company wishes to clarify the purpose of the filing of the resale registration statement and this amendment. The filings were not for a new issuance of shares but were made to register a portion of the Company's currently outstanding restricted shares from certain of its holders.
About MICT
MICT, Inc. (NasdaqCM: MICT) operates through its subsidiaries, GFH Intermediate Holdings Ltd. (“GFHI”) and Micronet Ltd. (“Micronet”). GFHI’s versatile proprietary trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Primary areas of focus include online brokerage for equities trading and wealth management services and sales of insurance products in several high-growth foreign markets, including Asia, where GFHI owns a substantial database of users. Micronet operates in the growing telematics and commercial Mobile Resource Management market, mainly in the United States and Europe. Micronet designs, develops, manufactures, and sells mobile computing solutions that provide fleet operators and field workforces with computing solutions in challenging work environments.
Forward-Looking Statements
Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, statements related to revenue targets, the growth of the Chinese Insurance market and other statements that are not historical facts. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2019 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Contacts: info@mict-inc.com (201) 225-0190
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