Company: MFON
Filing Date: 2025-08-01
Form Type: PRE 14A
Source: 0001140361-25-028385
Chunk: 37

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-08-01
Form: PRE 14A
Chunk 37
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 guarantee or predict with certainty how many shares would be tendered, the possibility existed that such a transaction would not reduce the number of holders of record to below 300, and the estimated costs of this type of transaction potentially could be higher than the costs of the Reverse Stock Split. As a result of these disadvantages, the Special Committee determined not to pursue this alternative.

Maintaining the Status Quo . The Special Committee also considered maintaining the status quo. In that case, the Company would continue to incur the significant expenses of being an SEC reporting company without enjoying what it believes to be the benefits traditionally associated with SEC reporting company status, including, but not limited to, raising capital in the public markets, stock liquidity, business credibility and the ability to use its common stock as currency for acquisitions. However, the Special Committee believed that becoming a private company would be in the best interests of the Company and its stockholders and rejected this alternative.

After carefully reviewing all of these alternatives, for the reasons discussed above, the Special Committee approved the Reverse Stock Split as the most expeditious and economical way of changing our status from that of a reporting company to that of a non-reporting company.

#### Fairness of the Reverse Stock Split
The Special Committee fully considered and reviewed the terms, purpose, alternatives and effects of the proposed Reverse Stock Split, and unanimously determined that the Reverse Stock Split is substantively and procedurally fair to the unaffiliated stockholders, including the unaffiliated Cashed Out Stockholders and the unaffiliated Continuing Stockholders. Except for such approval, the Company is not aware that any of its affiliates has made a recommendation, in their individual capacities, either in support of or opposition to the Reverse Stock Split.

The Special Committee did not obtain a report, opinion, or appraisal from an appraiser or financial advisor with respect to the consideration to Cashed Out Stockholders or Continuing Stockholders, due to the financially depressed status of the Company, the Company’s continuing operating losses, and the recent historical trading price of its common stock, and no representative or advisor was retained on behalf of the unaffiliated Cashed Out Stockholders and the unaffiliated Continuing Stockholders to review or negotiate the Reverse Stock Split.

The Special Committee, which has unanimously approved the Reverse Stock Split, concluded that the expense of opinions, appraisals and representatives was not reasonable in relation to the size of the Reverse Stock Split contemplated and concluded that the Special Committee, working in conjunction with management, could adequately establish the fairness of the Reverse Stock Split without such