Highlights New Leadership Appointments of
Urges Shareholders to Vote FOR All 12 Proposals on the WHITE Proxy Card at the
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Dear Fellow Shareholders,
The Board of Directors (the “Board”) thanks you for your investment in
We are on the cusp of an exciting new chapter with our planned acquisition of the
NEW LEADERSHIP TEAM
As we embark on this next step, we are pleased to announce the Board has unanimously approved two new leaders:
James Robertson as President and Chief Executive Officer. James joins us fromUs Weekly , the prestigious magazine and digital brand, where he served as Editor-In-Chief. He brings unparalleled experience to Vinco and will lead the Company into the next phase of our growth strategy to provide digital content and advertising.Chris Polimeni as Chief Financial Officer and Chief Operating Officer. Chris previously served as Executive Vice President – CFO/COO ofAccelerate360 Holdings, LLC & Subsidiaries , the parent company of a360Media, LLC (formerlyAmerican Media, LLC .). He has been involved in acquisitions, corporate finance,SEC reporting and corporate management for more than 30 years.
This new executive leadership team brings years of experience in piloting content-driven and digital businesses, which will be instrumental in guiding our growth strategy as we execute the integration of our robust new and existing assets into our digital and advertising platforms.
These recent announcements and developments underscore that Vinco is shifting its focus from addressing legacy challenges to executing against future growth. We strongly urge you to protect the value of your investment and vote for ALL 12 proposals on the proxy materials – including approving the Acquisition, approving the increase in authorized shares of stock and reverse stock split, both of which types of proposals are considered routine and thus usually subject to discretionary broker voting, and reelecting the five highly qualified directors that currently serve on your Board. Ahead of the Annual Meeting, we encourage you to consider the following:
THE ACQUISITION LAYS THE GROUNDWORK FOR FIVE KEY PILLARS OF VALUE CREATION
- Pillar 1: Leveraging the Enquirer’s famous library of highly valuable celebrity content. Vinco plans to transform this library into new, exciting and highly sought-after multimedia formats, including TV shows, documentaries and true crime series, podcasts, online and streaming productions, special issues and more.
- Pillar 2: Growing revenue by leveraging the wealth of content and strong subscription bases the Acquisition will bring. Vinco intends to prioritize the growth of this base of revenue by introducing new and innovative digital and premium subscription products.
- Pillar 3: Actively exploring intellectual property and licensing opportunities. Vinco will leverage the brand's recognition and reputation as “America’s most talked about magazine” to expand into new markets and generate revenue.
- Pillar 4: Leveraging content collaborations. Vinco intends to integrate and promote the Company’s social media platform, Lomotif, and the Company’s tech-education platform, Magnifi U, across the online and print publishing group’s pages, as well as harmoniously publishing original content with the MindTank and AdRizer networks.
- Pillar 5: Pursuing additional content outside the Acquisition. Vinco is focused on exploring additional media and publishing asset acquisitions to generate content and deliver significant audience scale across the Company’s digital first content ecosystem.
Your Board is highly engaged, extremely qualified and is currently overseeing the effective execution of the Company’s strategy to generate significant long-term value. The Board collectively possesses the right marketing and technology expertise, prior public board and C-suite experience and financial acumen to oversee the successful execution of the Company’s strategy to unlock value for shareholders.
The reverse stock split will automatically increase the stock price to regain compliance with Nasdaq continued listing requirements. The following table contains approximate information relating to the Common Stock under the low end, high end and midpoint of the proposed range of reverse stock split ratios, without giving effect to any adjustments for fractional shares of Common Stock, based upon a closing price of
Status | Stock Price (as adjusted) | Number of Shares of Common Stock Authorized | Number of Shares of Common Stock Issued and Outstanding | Number of Shares of Common Stock Authorized but Unissued | ||||||||||||
Pre-Reverse Stock Split | $ | 0.26 | 249,000,000 | 248,987,660 | 12,340 | |||||||||||
Post-Reverse Stock Split 1:2 | $ | 0.52 | 249,000,000 | 124,493,830 | 124,506,170 | |||||||||||
Post-Reverse Stock Split 1:10 | $ | 2.60 | 249,000,000 | 24,898,766 | 224,101,234 | |||||||||||
Post-Reverse Stock Split 1:20 | $ | 5.20 | 249,000,000 | 12,449,383 | 236,550,617 |
YOUR VOTE IS VERY IMPORTANT – HELP ENSURE VINCO’S MOMENTUM CONTINUES
Protect the value of your investment and vote for ALL 12 proposals on the proxy materials you receive.
We believe that approving the Acquisition is an essential first step in the Company’s growth strategy and that approving the share issuances and reverse stock split will give Vinco the necessary financial flexibility to operate successfully by automatically increasing the stock price to regain compliance with Nasdaq continued listing requirements.
Thank you for your continued support as we capitalize on the opportunities ahead.
Sincerely,
The Vinco Board of Directors
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YOUR VOTE IS IMPORTANT!
THE BOARD RECOMMENDS THAT YOU VOTE “FOR” ALL 12 PROPOSALS.
WE URGE YOU TO COMPLETE, DATE AND SIGN THE ENCLOSED PROXY CARD AND MAIL IT PROMPTLY IN THE POSTAGE-PAID ENVELOPE PROVIDED, OR VOTE BY TELEPHONE OR THE INTERNET AS INSTRUCTED ON THE PROXY CARD, WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING.
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To vote by phone, please dial 1-800-690-6903 and have your control number ready, which is available on the proxy card mailed or electronically delivered to each shareholder of record.
To vote by mail, please mark, sign and date your Proxy Card and return it in the postage-paid envelope provided or return it to Vote Processing, c/o Broadridge,
If you need assistance voting your shares or obtaining your control number or have any other questions, please contact
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Vinco Urges Shareholders to Vote FOR All 12 Proposals at the Annual Meeting.
If shareholders have any questions, please contact Vinco’s proxy solicitors, Kingsdale Advisors US, at 1-855-682-2023
About
For more information, please visit https://investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
This press release contains “forward-looking statements” as defined in the safe harbor provisions of the
For further information, please contact:
Investor Contact
investor@vincoventures.com
Media Contact
vinco@longacresquare.com
Source:
2023 GlobeNewswire, Inc., source