Company: MFON
Filing Date: 2025-08-05
Form Type: 8-K
Source: 0001140361-25-028871
Chunk: 5

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-08-05
Form: 8-K
Item: Item 8.01
Chunk 5
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Item 8.01      Other Events  

On July 31, 2025, a Special Committee of the Board consisting entirely of independent and disinterested directors, approved a transaction
whereby the Company would effect a reverse stock split of the Company’s shares of common stock, in conjunction with terminating the Company’s public company reporting obligations, subject to obtaining the requisite approval of the Company’s
stockholders at a Special Meeting of Stockholders to be held for that purpose, which is currently expected to occur in September 2025.

Specifically, the Special Committee approved a transaction whereby the Company would effect a 1-for-25,000 reverse
stock split of the Company’s common stock (the “ Reverse Stock Split”). If the proposal is approved, at the effective time of the Reverse Stock Split each share of common stock owned by a stockholder in any one account holding fewer than 25,000
shares immediately prior to the Reverse Stock Split will be automatically converted into the right to receive $0.29 in cash for each such share owned immediately prior to the Reverse Stock Split, without interest (the “ Cash Payment”), and such
stockholders (“ Cashed Out Stockholders”) will no longer be stockholders of the Company. Stockholders owning shares of common stock in any one account holding 25,000 or more shares immediately prior to the effective time of the Reverse Stock
Split (“ Continuing Stockholders”) will remain stockholders of the Company and, to the extent any Continuing Stockholder owns a number of pre-split shares that is greater than 25,000 but is not evenly divisible by 25,000, then the fractional
shares of such stockholder resulting from the proposed Reverse Stock Split would be cashed out at the Cash Payment. The Company estimates that approximately 3,481,673 shares of the Company’s common stock (representing approximately 4.7% of the
shares of common stock currently outstanding) would be cashed out in the Reverse Stock Split and the aggregate cost to the Company of the Reverse Stock Split would be approximately $1,500,000. This amount includes approximately $1,009,685
needed to cash out fractional shares that would otherwise result from the Reverse Stock Split in respect of Cashed Out Stockholders (and the Cash Payment owed to certain Continuing Stockholders in lieu of fractional shares), and approximately
$300,000 of legal, solicitation, filing, and other costs needed to effect the Reverse Stock Split. This total amount could be larger or smaller depending on, among other