# EDGAR Filing Document

**Accession Number:** 0001467761
**File Stem:** 0001493152-23-010286
**Filing Date:** 2023-3
**Character Count:** 18434
**Document Hash:** d5bebd3caff6d5726ef9160c5377b2e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-010286.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001493152-23-010286

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230331

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MINIM, INC.
- **CENTRAL INDEX KEY:** 0001467761
- **STANDARD INDUSTRIAL CLASSIFICATION:** TELEPHONE & TELEGRAPH APPARATUS [3661]
- **IRS NUMBER:** 042621506
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37649
- **FILM NUMBER:** 23787856

**BUSINESS ADDRESS:**
- **STREET 1:** 848 ELM STREET
- **CITY:** MANCHESTER
- **STATE:** NH
- **ZIP:** 03101
- **BUSINESS PHONE:** 833-966-4646

**MAIL ADDRESS:**
- **STREET 1:** 848 ELM STREET
- **CITY:** MANCHESTER
- **STATE:** NH
- **ZIP:** 03101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Zoom Telephonics, Inc.
- **DATE OF NAME CHANGE:** 20090707

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** March 31, 2023

**MINIM, INC.**

**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| Delaware | 001-37649 | 04-2621506 |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

848 Elm Street Manchester, NH 03101

**(Address of principal executive offices, including zip code)**

(833) 966-4646

**(Registrant's Telephone Number, Including Area Code)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 24013e-4(c))

Securities registered pursuant to Section 12(b) of the Act

---

| | |
|:---|:---|
| **Title of Each Class** | **Name of Each Exchange On Which Registered** |
| Common Stock, $.01 par value per share MINM | The Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 3.03 Material Modification to Rights of Security Holders.**

To the extent required by Item 3.03 of Form 8-K, the information regarding the Reverse Stock Split (as defined herein) contained in Item 5.03 of this Current Report on Form 8-K is incorporated by reference herein.

**Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

On March 28, 2023, the stockholders of Minim, Inc. ("the Company") approved an amendment to the Company's Amended and Restated Certificate of Incorporation to implement a reverse stock split of the Company's common stock, par value $0.01 per share, with the ratio to be determined by the Board of Directors (the "Board") of the Company, within a range of not less than 1-for-10 or greater than 1-for-25. Subsequently on March 30, 2023, the Board determined to fix the ratio for the reverse stock split at 1-for-25. On March 31, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the "Certificate of Amendment") with the Secretary of State of the State of Delaware, to implement the 1-for-25 reverse split of its common stock (the "Reverse Stock Split"). The Certificate of Amendment provides that the Reverse Stock Split will be effective as of 12:01 a.m. (Eastern Time) on April 17, 2023 (the "Effective Time"), and Minim anticipates the Company's common stock will begin trading on The Nasdaq Capital Market on a post-split basis on April 17, 2023 under the Company's existing symbol "MINM."

As a result of the Reverse Stock Split, every twenty-five (25) shares of the Company's issued and outstanding common stock, par value $0.01, will be converted at the Effective Time into one (1) share of common stock, par value $0.01, reducing the number of issued and outstanding shares of the Company's common stock from approximately 47.15 million shares to approximately 1.89 million shares. The Company's transfer agent, Computershare Trust Company, N. A. ("Computershare"), will provide instructions to stockholders of record regarding the process for exchanging shares.

The Reverse Stock Split will not modify any voting rights or other terms of the common stock and will not affect any stockholder's percentage interest in the Company's common stock, except for adjustments which may result from the treatment of fractional shares as described below. Because the Certificate of Amendment will not reduce the number of authorized shares of the Company's common stock, the Certificate of Amendment and the Reverse Stock Split will increase the number of shares of common stock available for issuance relative to the number of shares issued and outstanding. However, pursuant to the existing terms of the Company's outstanding equity awards and equity incentive plans, a proportionate increase will be made in the per share exercise price, and decrease in the number of underlying shares issuable upon exercise, under all of the Company's outstanding equity awards, and the number of shares authorized and reserved for potential issuance pursuant to the Company's equity incentive plans will be proportionately reduced.

No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive fractional shares because they hold a number of pre-Reverse Stock Split shares of the Company's common stock not evenly divisible by twenty-five (25), will, in lieu of a fractional share, be entitled, upon surrender to the exchange agent of certificate(s) representing their pre-split shares or upon conversion of their shares held in book-entry, receive a cash payment equal to the fraction to which the stockholder would otherwise be entitled multiplied by the closing trading price on April 17, 2023 (as adjusted to give effect to the Reverse Stock Split).

Computershare will be issuing all of the post-split shares through their paperless Direct Registration System ("DRS"), also known as "book-entry form". Computershare will hold the shares in an account set up for the stockholder.

All book-entry or other electronic positions representing issued and outstanding shares of the Company's common stock will be automatically adjusted. Those stockholders holding common stock in "street name" will receive instructions from their brokers.

The above description of the Certificate of Amendment and the Reverse Stock Split is a summary of the material terms thereof and is qualified in its entirety by reference to the Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1, as filed with the Secretary of State of the State of Delaware on March 31, 2023.

**Item 8.01 Other Events.**

On March 31, 2023, the Company issued a press release relating to the matters described in Item 5.03 above. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

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| | |
|:---|:---|
| **Number** | **Description** |
| 3.1 | [Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Minim, Inc., filed with the Delaware Secretary of State on March 31, 2023](ex3-1.htm) |
| 99.1 | [Press Release issued by the Company on March 31, 2023](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**<u>SIGNATURE</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Dated: March 31, 2023 | **MINIM, INC.** | **MINIM, INC.** |
|  | By: | */s/ Dustin Tacker* |
|  | Name: | Dustin Tacker |
|  | Title: | Chief Financial Officer |

---

## Exhibit 3.1

**Exhibit 3.1**

**CERTIFICATE OF AMENDMENT<br> TO THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION<br> of<br> MINIM, INC.<br>Pursuant to Section 242 of the General Corporation Law of the State of Delaware (the "DGCL")**

Minim, Inc., a corporation organized and existing under and by virtue of the DGCL (the "Corporation"), hereby certifies as follows:

**First:** The name of the Corporation is Minim, Inc.

**Second:** The date on which the Certificate of Incorporation of the Corporation was originally filed with the Secretary of State of the State of Delaware is March 25, 1993, and was amended and restated by the Amended and Restated Certificate of Incorporation filed with the Secretary of State of the State of Delaware (the "Secretary of State") on September 22, 2009, as amended by the Certificate of Amendment filed with the Secretary of State on November 16, 2015, the Certificate of Designation filed with the Secretary of State on November 16, 2015, the Certificate of Amendment filed with the Secretary of State on July 25, 2019, the Certificate of Amendment filed with the Secretary of State on June 2, 2021, the Certificate of Amendment filed with the Secretary of State on June 3, 2021, the Certificate of Correction filed with the Secretary of State on June 30, 2021 and the Certificate of Amendment filed with the Secretary of State on July 23, 2021 (as amended and restated, the "Certificate").

**Third:** The Corporation hereby amends the Certificate as follows:

ARTICLE FOURTH of the Certificate is hereby deleted in its entirety and amended to read as follows:

The Corporation is authorized to issue two classes of stock to be designated, respectively, "Common Stock" and "Preferred Stock." The total number of shares of all classes of stock that the Corporation shall have the authority to issue is sixty-two million (62,000,000), of which sixty million (60,000,000) shares shall be Common Stock, having a par value of $.01 per share, and of which two million (2,000,000) shares shall be Preferred Stock, having a par value of $.001 per share. Upon the effectiveness of this Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Corporation (the "Effective Time"), each twenty-five shares of Common Stock issued and outstanding at such time shall, automatically and without any further action on the part of the Corporation or the holder thereof, be combined into one (1) validly issued, fully paid and non-assessable share of Common Stock (the "Reverse Stock Split"). The par value of the Common Stock following the Reverse Stock Split shall remain $0.01 per share. No fractional shares shall be issued, and, in lieu thereof, the Corporation shall pay cash equal to such fraction multiplied by the fair market value of a share of Common Stock, as determined by the Board of Directors. Each certificate that immediately prior to the Effective Time represented shares of Common Stock (an "Old Certificate") shall thereafter represent that number of shares of Common Stock into which the shares of Common Stock represented by the Old Certificate shall have been combined, subject to the elimination of fractional share interests as described above.

The Board of Directors of the Corporation is authorized, subject to limitations prescribed by the DGCL and the provisions of this Certificate of Incorporation, to provide, by resolution or resolutions from time to time and by filing a certificate or certificates of designations pursuant to the DGCL, for the issuance of the shares of Preferred Stock in series, to establish from time to time the number of shares to be included in each such series, the voting powers (if any) of the shares to be included in each such series, to fix the powers, designations, preferences and relative, participating, optional or other special rights of the shares of each such series and to fix the qualifications, limitations or restrictions thereof, including without limitation thereof, dividend rights, special voting rights, conversion rights, redemption privileges and liquidation preferences, as shall be stated and expressed in such resolutions, all to the full extent now or hereafter permitted by the DGCL. Without limiting the generality of the foregoing, the resolutions providing for issuance of any series of Preferred Stock may provide that such series shall be superior or rank equally or be junior to the Preferred Stock of any other series to the extent permitted by law. Except as otherwise specifically provided in this Certificate of Incorporation, no vote of the holders of the Preferred Stock or Common Stock shall be a prerequisite to the issuance of any shares of any series of the Preferred Stock authorized by and complying with the conditions of this Certificate of Incorporation, the right to have such vote being expressly waived by all present and future holders of the capital stock of the Corporation.

**Fourth:** The Effective Time of this Certificate of Amendment shall be 12:01 a.m., Eastern Time, on April 17, 2023.

**Fifth:** This Certificate of Amendment has been duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

[Signature page follows]

**IN WITNESS WHEREOF,** Minim, Inc. has caused this Certificate of Amendment to be signed by its chief executive officer this 31day of April 2023.

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| | |
|:---|:---|
| **MINIM, INC.** | **MINIM, INC.** |
| By: | */s/ Mehul Patel* |
| Name: | Mehul Patel |
| Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Minim, Inc. Announces Reverse Stock Split**

MANCHESTER, NH (March 31, 2023)- Minim, Inc. (Nasdaq: MINM), the creator of home networking products and software under the globally-recognized Motorola brand, today announced that the Company's Board of Directors has approved a reverse stock split of its shares of common stock at a ratio of 1-for-25. The reverse stock split will become effective at 12:01 a.m. Eastern Time on April 17, 2023 and Minim anticipates the Company's common stock will open for trading on The Nasdaq Capital Market on a post-split basis on April 17, 2023 under the Company's existing trading symbol, "MINM."

The reverse stock split is being implemented to increase the per share trading price of the Company's common stock, for the purpose of ensuring a share price complying with the minimum $1.00 bid price requirement for continued listing on The Nasdaq Capital Market.

At the effective time of the reverse stock split, every twenty-five (25) shares of Minim common stock issued and outstanding will be combined into one (1) share of common stock issued and outstanding, with no change to the par value of $0.01 per share. This will reduce the Company's outstanding common stock from approximately 47.15 million shares to approximately 1.89 million shares. No fractional shares of common stock will be issued as a result of the reverse stock split and instead holders of Minim common stock will receive a cash payment in lieu of fractional shares to which they would otherwise be entitled. The reverse stock split affects all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's common stock, except for adjustments that may result from the treatment of fractional shares as described above.

The Company has retained its transfer agent, Computershare Trust Company, N.A. ("Computershare"), to act as its exchange agent for the reverse split. Shareholders with shares held in certificate form will receive from Computershare instructions regarding the exchange of their certificates. Shareholders that hold shares in book-entry form or hold their shares in brokerage accounts are not required to take any action and will see the impact of the reverse stock split reflected in their accounts, subject to brokers' particular processes. Beneficial holders of Minim common stock are encouraged to contact their bank, broker, custodian or other nominee with questions regarding procedures for processing the reverse stock split.

Additional information regarding the reverse stock split is available in the Company's definitive proxy statement filed with the U.S. Securities and Exchange Commission on March 14, 2023.

**About Minim**

Minim, Inc. (NASDAQ: MINM) was born in 1977 as a networking company and now delivers intelligent software to protect and improve the WiFi connections we depend on to work, learn, and live. Minim's cloud platform powers intuitive apps and a variety of routers, helping customers take control of their connected experience and privacy. Headquartered in Manchester, N.H., Minim holds the exclusive global license to design and manufacture consumer networking products under the Motorola brand. To learn more, visit https://www.minim.com.

MOTOROLA, the Stylized Motorola Logo, and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. All other trademarks are the property of their respective owners.© 2023 Motorola Mobility LLC.

Investor Relations Contact:

James Carbonara

james@haydenir.com

(646) 755-7412