PHOENIX, AZ – November 12, 2013 – Mobivity Holdings Corp. (OTCQB: MFON), an award-winning provider of proprietary and patented mobile marketing technologies and solutions, today announced the effectiveness of a 1-for-6 reverse stock split of issued Mobivity common stock. Mobivity common stock will begin trading on a split-adjusted basis on the OTCQB market at the opening of trading tomorrow, November 13, 2013.
Dennis Becker, chairman and chief executive officer of Mobivity commented, “Mobivity continues to execute on our business plan. We are successfully adding thousands of new customers that are leveraging our mobile marketing solutions to drive customer engagement and sales. Effecting this reverse stock split is intended to allow for greater visibility amongst the national investment community and take us a step closer towards a possible listing on a national exchange.”
The reverse stock split will affect all shares of the Company`s common stock outstanding immediately prior to the effective time of the reverse stock split, as well as the number of shares of common stock available for issuance under the Company`s equity incentive plans. In addition, the reverse stock split will effect a reduction in the number of shares of common stock issuable upon the exercise of stock options or warrants outstanding immediately prior to the effectiveness of the reverse stock split, with a proportional increase in the exercise price. No fractional shares will be issued as a result of the reverse stock split. In lieu of issuing fractional shares, the Company will round up to one whole share of Common Stock in the event a stockholder would be entitled to receive a fractional share of Common Stock.
Additional information regarding the reverse stock split can be found in the Company’s definitive information statement filed with the Securities and Exchange Commission on October 15, 2013.
Mobivity is an award-winning provider of a suite of patented mobile marketing technologies that drive sales, enhance customer engagement, and reward customer loyalty for local businesses and national brands. Its solutions, including an industry-leading text messaging product and innovative Stampt™ mobile loyalty application, enable businesses across the United States to drive incremental business and profitability by quickly and effectively communicating discounts and special offers to their most loyal customers. Additionally, Mobivity offers a unique, high definition graphical system platform that allows its clients to enhance customer or fan experience by interacting with their mobile phones and video boards or screens in real time. Mobivity’s clients include national brands such as CNN, Disney, the NFL, Sony Pictures, AT&T, United States Tennis Association, Chick-fil-A, the Golf Channel, NBC Universal, and numerous professional sports teams, as well as thousands of small, local businesses across the U.S. For more information, visit www.mobivity.com.
Forward Looking Statement
This press release contains forward-looking statements concerning Mobivity Holdings Corp. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding the expected benefits resulting from the reverse split of the Company’s common shares, expectations for the growth of the Company’s operations and revenue; the advantages and growth prospects of the mobile marketing industry. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, the trading price of our common shares following the reverse split, our ability to successfully integrate our recent additions to management; our ability to develop the sales force required to achieve our development and revenue goals; our ability to raise additional working capital as and when needed; changes in the laws and regulations affecting the mobile marketing industry and those other risks set forth in Mobivity Holdings Corp.’s annual report on Form 10-K for the year ended December 31, 2012 filed with the SEC on March 21, 2013 and subsequently filed quarterly reports on Form 10-Q. Mobivity Holdings Corp. cautions readers not to place undue reliance on any forward-looking statements. Mobivity Holdings Corp. does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
For More Information, Contact:
Chief Executive Officer | Mobivity
Managing Partners | Lytham Partners, LLC
(602) 889-9700 | MFON@lythampartners.com