Company: MFON
Filing Date: 2025-08-01
Form Type: PRE 14A
Source: 0001140361-25-028385
Chunk: 45

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-08-01
Form: PRE 14A
Chunk 45
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Effect of the Reverse Stock Split on the Company. The Reverse Stock Split is designed to reduce and maintain the number of our stockholders of record below 300, which will allow us to cease our reporting obligations with the SEC. In determining whether the number of our stockholders of record remains below 300 for regulatory purposes, we will count stockholders of record in accordance with Rule 12g5-1 under the Exchange Act. Rule 12g5-1 provides, with certain exceptions, that in determining whether issuers, including the Company, are subject to the registration provisions of the Exchange Act, securities are considered to be “held of record” by each person who is identified as the owner of such securities on the respective records of security holders maintained by or on behalf of the issuers. However, institutional custodians such as Cede & Co. and other commercial depositories are not considered a single holder of record for purposes of these provisions. Rather, Cede & Co.’s and these depositories’ accounts are treated as the record holder of our shares. Based on information available to us as of July 31, 2025, we expect that as a result of the Reverse Stock Split the number of accounts that own shares would be reduced from approximately 646 to approximately 164, and we estimate that there are approximately 472 accounts that own fewer than 25,000 shares of our common stock and would be cashed out in the Reverse Stock Split.

We also believe the Reverse Stock Split will have the following additional effects:

Termination of Exchange Act Registration and Elimination of SEC Reporting Obligations. Our common stock is currently registered under the Exchange Act. The registration may be terminated upon application by us to the SEC if there are fewer than 300 holders of record of our common stock. We will be required to terminate our registration under the applicable provisions of the Exchange Act. Accordingly, we will file with the SEC a Form 15 certifying that we have less than 300 stockholders. Our obligation to file periodic and current reports as a result of our common stock’s registration under those other provisions of the Exchange Act will be suspended immediately upon the filing the Form 15 with the SEC. After the 90-day waiting period following the filing of the Form 15: (1) our obligation to comply with the requirements of the proxy rules and to file proxy statements under Section 14 of the Exchange Act will also be terminated; (2) our executive officers, directors and 10% stockholders will no longer