Company: MFON
Filing Date: 2025-09-02
Form Type: 10-Q
Source: 0001641172-25-026202
Chunk: 1

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-09-02
Form: 10-Q
Item: Part II, Item 1
Chunk 1
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 the Company’s stockholders
at a Special Meeting of Stockholders to be held for that purpose.

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 things,
the number of fractional shares that will be outstanding after the Reverse Stock Split as a result of purchases, sales and other transfers
of our shares of common stock by our stockholders.

The
Reverse Stock Split will be submitted to a vote of the Company’s stockholders at a Special Meeting of Stockholders to be called
for that purpose. The Company has prepared and filed a preliminary proxy