Urges shareholders to vote “FOR” the two reverse stock split proposals to avoid delisting from Nasdaq
CEO also shares video message answering important questions from shareholders
OXFORD, Connecticut., October 11, 2021 / PRNewswire / – Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company” or “NXT-ID”), a provider of technology products and services for healthcare applications, today shared a letter to shareholders of NXT-ID of the CEO of the Company, Chia lin simmons. Letter reminds shareholders to vote today “FOR” each of the reverse stock consolidation proposals relating to the common shares and the Series C preferred shares of NXT-ID, so that they may remain listed on the Nasdaq.
“The stock split process can be complex and difficult to understand, so we’re answering several priority questions to help explain how the process works and why these proposals are urgent and important,” said Ms. Simmons. “I encourage all of our shareholders to visit our dedicated microsite designed to help educate and inform shareholders and invite you all to vote FOR both proposals today. “
Ms. Simmons also shared a video message addressing several important shareholder issues. You can view this video on the Company’s microsite: www.voteFORnxt-id.com.
Shareholders are encouraged to view the attached letter and video message from Ms. Simmons, which can also be viewed on the company’s microsite, www.voteFORnxt-id.com, and in the final meeting materials. extraordinary recently filed by the company with the Securities and Exchange Commission (“SEC”).
Shareholders on the date of registration of the Special Meeting, September 16, 2021, will have the right to vote at the extraordinary meeting. Shareholders are encouraged to read the stock split proposals in the company’s final proxy statement in Schedule 14A which was filed with the SEC on September 17, 2021 (the “Final Declaration of Power of Attorney”). The definitive proxy statement can also be viewed at www.voteFORnxt-id.com. Shareholders who have questions or need assistance in voting for their shares should contact the Company’s attorney, Laurel Hill Advisory Group, LLC, at 888-742-1305.
If your shares are registered directly in your name with NXT-ID’s transfer agent, VStock Transfer, LLC, you are considered the “registered shareholder” of those shares and the proxy for the special meeting is being sent to you. directly by NXT- IDENTIFIER. Registered shareholders (i.e. shareholders who hold their shares in their own name) may vote by mail, online, email, fax or in person at the Special Meeting by following the instructions provided on the proxy card.
If you choose to submit your proxy by mail, simply mark, date and sign your proxy card and return it in the postage-paid envelope provided.
If you choose to submit a proxy over the Internet, go to http://www.vstocktransfer.com/proxy to complete an electronic proxy card. Have your proxy card ready when you access the website and follow the instructions to vote. Your internet proxy must be received by 11:59 p.m. EST to October 14, 2021 be counted.
Beneficial owners of shares held in the name of the street
If your shares are held in the “name of the street” (that is, in the name of a bank, broker or other registered holder), you will receive instructions from the registered holder that you must follow so that your actions are voting. . Internet voting will also be offered to shareholders holding shares through most banks and brokers. If your shares are held with a brokerage firm or custodian bank, you are considered the “beneficial owner” of the shares held in the name of the street, and the proxy for the extraordinary meeting has been sent to you by by post or by e-mail from your broker, bank or agent, who is considered to be the registered shareholder of these shares. As the beneficial owner, you have the right to instruct your broker, bank or nominee on how to exercise the voting rights attached to the shares held in your account.
However, holders of shares held in the name of the street cannot vote these shares in person at the special meeting unless such holders request and obtain a legal power of attorney from that bank, broker or other registered holder.
About Nxt-ID, Inc.
Nxt-ID, Inc. (NASDAQ: NXTD) provides technology products and services for healthcare applications. The Company has extensive experience in access control, biometric and behavioral identity verification, security and privacy, data encryption and protection, payments, miniaturization, sensor technologies and applications of health. Through its subsidiary LogicMark LLC, NXT-ID is a manufacturer and distributor of unmonitored and monitored personal emergency response systems sold through resellers / distributors and the United States Department of Veterans Affairs. Learn more about NXT-ID at www.NXT-ID.com. For information on the NXT-ID company, contact: [email protected]
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations as of the date of this press release and involve certain risks and uncertainties. Forward-looking statements include statements herein regarding the successful execution of the Company’s business strategy. The actual results of the Company could differ materially from those anticipated in these forward-looking statements due to various factors. These risks and uncertainties include, among others, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to potentially license other patents and patent applications necessary for development. of products ; the availability of funding; the Company’s ability to implement its long-term business plan for various applications of its technology; the Company’s ability to enter into agreements with all necessary marketing and / or distribution partners; the impact of competition, obtaining and maintaining all necessary regulatory approvals applicable to the applications of the Company’s technology; the Company’s ability to maintain its Nasdaq listing for its common shares; and the management of growth and other risks and uncertainties which may be detailed from time to time in the Company’s reports filed with the SEC.
Investor / media contacts:
Laurel Hill Advisory Group
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SOURCE Nxt-ID, Inc.