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My Size Announces Reverse Stock Split

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My Size, Inc. (NASDAQ: MYSZ) announces a one-for-eight reverse stock split to increase per share price and bid price, aiming to comply with Nasdaq listing requirements and attract institutional investors.
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The announcement by MySize, Inc. regarding a reverse stock split is a tactical financial maneuver aimed at bolstering the company's stock price to maintain NASDAQ listing compliance. The reduction in total outstanding shares from 5.1 million to approximately 0.64 million, a 1-for-8 ratio, implies a nominal increase in the value of each share held post-split. This action does not intrinsically add value to the company but is often perceived as a tool to make shares more appealing to institutional investors due to a higher per-share price.

It's important for shareholders to consider the implications of such a move. While the ownership percentage for each investor remains unchanged, except in cases where fractional shares occur, the market's reaction to a reverse split can be mixed. Historically, reverse splits have been associated with companies facing potential delisting and as such, it may flag concerns about underlying business performance. However, should this action succeed in stabilizing the stock price and attracting more established investors, the long-term outlook could be positively influenced.

In relation to MySize's core business in the e-commerce sector, the reverse stock split does not directly impact the operational effectiveness of their AI-driven measurement solutions. However, from a market perception standpoint, it could signal a strategic shift in the company's approach to capital structure management. Retail investors evaluating MySize should assess this move within the broader context of the company's current financial health, growth prospects and competitive positioning.

Retail investors may also want to monitor the stock's behavior post-split to gauge institutional investor interest, which may serve as a proxy indicator of the company's future financial robustness. It is noteworthy that the number of authorized shares remains unchanged, suggesting potential for future equity offerings, which could dilute shareholder value if exercised. It's important for investors to stay abreast of such developments and weigh them against the company's operational performance and market trends.

AIRPORT CITY, Israel, April 15, 2024 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, announced that its Board of Directors has approved a one-for-eight reverse stock split of its common stock that is scheduled to become effective after trading closes on April 19, 2024. Beginning on April 23, 2024, the Company's common stock will trade on the Nasdaq Capital Market on a split adjusted basis under a new CUSIP number 62844N 406. 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 Special Meeting of Stockholders held on April 15, 2024, 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-15 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.

My Size Inc. Logo

Upon effectiveness of the reverse stock split, every 8 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 5.1 million to approximately 0.64 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 March 22, 2024, 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.

MySize, Inc. (NASDAQ: MYSZ) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions including MySizeID and recently acquired Naiz Fit to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize's reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.

MySize 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 that are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, 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 FacebookLinkedInInstagram, and Twitter.

Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.

Register here for the MySizeID solution for your online store and here for the Naiz Fiz solution.

To learn more about MySize and for additional information, please visit: our website: www.mysizeid.com.

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, including statements related to the acquisition, expected revenues, and the expected closing of the acquisition. 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 may 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.

Investor Contacts:
Or Kles, CFO
ir@mysizeid.com

Logo: https://mma.prnewswire.com/media/689689/3320229/MySize_Logo.jpg

Cision View original content:https://www.prnewswire.com/news-releases/my-size-announces-reverse-stock-split-302117123.html

SOURCE My Size Inc.

FAQ

What is the purpose of My Size's reverse stock split (MYSZ)?

My Size is implementing a one-for-eight reverse stock split to increase the per share price and bid price of its common stock, aiming to comply with Nasdaq listing requirements and attract institutional investors.

When will the reverse stock split of My Size (MYSZ) common stock be effective?

The reverse stock split of My Size's common stock is scheduled to become effective after trading closes on April 19, 2024.

How will the reverse stock split impact My Size's (MYSZ) outstanding common stock?

Upon effectiveness of the reverse stock split, every 8 shares of My Size's outstanding common stock will be converted to one share of common stock.

Will the reverse stock split affect the number of authorized shares of My Size's (MYSZ) common stock?

The number of authorized shares of My Size's common stock will not change, while the number of outstanding shares will be reduced from approximately 5.1 million to approximately 0.64 million.

Do stockholders holding physical stock certificates of My Size (MYSZ) need to take any action in connection with the reverse stock split?

Stockholders holding physical stock certificates of My Size will receive instructions from the Company's transfer agent, VStock Transfer, , for exchanging those certificates for new certificates representing the post-split number of shares.

My Size, Inc.

NASDAQ:MYSZ

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2.47M
3.99M
14.94%
7.13%
0.27%
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United States of America
AIRPORT CITY

About MYSZ

my size inc. (nasdaq: mysz, tase: mysz) developed a unique measurement technology based on sophisticated algorithms with broad applications in a variety of areas, from the apparel e-commerce market to do it yourself (diy) smartphone & tablet apps. the technology is driven by several patents algorithms which are able to calculate and record measurements in a variety of novel ways. since the company's inception, it has raised over $10.5 million from accredited investors.