Company: MFON
Filing Date: 2025-09-09
Form Type: PRER14A
Source: 0001140361-25-034415
Chunk: 32

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-09-09
Form: PRER14A
Chunk 32
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’s revenue during the last fiscal year. Without these costs, in the view of the Board, the Company would be a stronger company and better able to enhance stockholder value over the long-term. In April and May 2025, the Company’s management conferred with its outside legal counsel, Faegre Drinker Biddle & Reath LLP (“ Faegre Drinker”), to discuss whether “going dark” in conjunction with a reverse stock split or otherwise might be in the best interests of the Company and its stockholders, including the following considerations:

| • | Factors such as (1) the significant cost-savings realized by not being a public reporting company, both in terms of direct costs and management time and distraction, (2) the perceived lack of benefit to the Company and its stockholders of being public, (3) the history of low stock prices, low volume and volatile trading, and (4) the opportunity to provide smaller stockholders liquidity via the cash-out of fractional shares in a reverse stock split and larger stockholders the opportunity to retain their ownership interest in the Company unencumbered by the high costs of being public. |

| • | The prospects of achieving meaningful improvement in Company profitability through organic initiatives in a timeframe acceptable to public stockholders. The Company viewed existing organic initiatives as potentially offering growth that would be gradual and incremental. In contrast, the costs of being public were significant, immediate, recurring and certain. |

| • | The history of the Company’s outreach to a wide range of industry participants over the years regarding potential strategic transactions. |

In addition to a formal engagement with an investment bank in 2020 and 2021 to explore a potential sale of the business, the Company pursued numerous strategic discussions with industry participants from late 2023 through mid-2025, including the following:

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| • | On June 17, 2024, the Company met with representatives from Company C. After discussion, Company C proposed an asset-only transaction structure, to which the Company responded with potential interest. After no further communication was received, the Company followed up on August 15, 2024, which resulted in a short email exchange from September 9-11, 2024, with no subsequent follow-up from Company C. The Company followed up again on March 3, 2025, but received no response. |

| • | On February 6, 2025, an investment banker representing Company D reached out to the Company. The Company met with