AIRPORT CITY, Israel,
Nov. 4, 2021 /PRNewswire/
-- My Size, Inc. ("My Size" or the "Company") (NASDAQ:
MYSZ) (TASE: MYSZ), a leading developer and creator of smartphone
measurement solutions, today announced that it has entered into a
cooperation agreement (the "Agreement") with Custodian Ventures LLC
and its affiliates (collectively, "Custodian Ventures"). In
addition, My Size announced that it is seeking to enhance
shareholder value by evaluating acquisition opportunities while
refocusing on the commercialization of MySizeID. Custodian Ventures
has agreed to conclude its public campaign and withdraw its
director candidates for election at the Company's 2021 Annual
Meeting of Stockholders (the "Annual Meeting"). The Company has
agreed to withdraw the lawsuit it previously filed in the United States District Court for the
Southern District of New York
against Custodian Ventures and certain stockholders.
Ronen Luzon, Chief Executive Officer and Founder of My Size,
commented:
"We are pleased to have resolved this matter and are committed
to executing on our strategic plan, which includes evaluating
acquisition opportunities to enhance value for stockholders.
In recent months, we have also announced business partnerships with
Wix eCommerce, Dockers (Turkey),
GK Software and Threads, further growing our market share around
the world. Additionally, we believe the appointment of a seasoned
industry executive to our Board of Directors in August and the
consolidation of our IP portfolio exclusively within the Company
positions My Size for future growth."
The complete Agreement will be filed on Form 8-K with the U.S.
Securities and Exchange Commission.
Stockholders are not required to take any action at this time.
The Board intends to schedule the 2021 Annual Meeting of
Stockholders and will present its director candidates for election
at the meeting in its proxy materials, which will be filed with the
Securities and Exchange Commission in due course.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ, NASDAQ: MYSZ) has developed a unique
measurement technology based on sophisticated algorithms and
cutting-edge technology with broad applications, including the
apparel, e-commerce, DIY, shipping, and parcel delivery industries.
This proprietary measurement technology is driven by several
algorithms that are able to calculate and record measurements in a
variety of novel ways. To learn more about My Size, please visit
our website: www.mysizeid.com. We routinely post information that
may be important to investors in the Investor Relations section of
our website. Follow us on Facebook, LinkedIn, Instagram, and
Twitter.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words "could," "believe,"
"anticipate," "intend," "estimate," "expect," "may," "continue,"
"predict," "potential," "project" and similar expressions that are
intended to identify forward-looking statements. All
forward-looking statements speak only as of the date of this press
release. You should not place undue reliance on these
forward-looking statements. Although we believe that our plans,
objectives, expectations and intentions reflected in or suggested
by the forward-looking statements are reasonable, we can give no
assurance that these plans, objectives, expectations or intentions
will be achieved. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from historical experience and present expectations or projections.
Actual results to differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. Forward-looking statements also
are affected by the risk factors described in the Company's filings
with the U.S. Securities and Exchange Commission. Except as
required by law, we undertake no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events.
Important Information
My Size intends to file with the SEC a proxy statement and
associated proxy card in connection with the solicitation of
proxies for the Company's 2021 Annual Meeting of Stockholders.
Details concerning the nominees of the Company's Board of Directors
for election at the 2021 Annual Meeting of Stockholders will be
included in the proxy statement. BEFORE MAKING ANY VOTING DECISION,
INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL
RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING
THE COMPANY'S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS
THERETO, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors
and stockholders will be able to obtain a copy of the definitive
proxy statement and other documents filed by the Company free of
charge from the SEC's website, www.sec.gov. The Company's
stockholders will also be able to obtain, without charge, a copy of
the definitive proxy statement and other relevant filed documents
by directing a request by mail to My Size, Inc. at HaYarden 4,
Airport City, Israel 7010000.
Participants in the Solicitation
The Company, its directors and certain of its executive officers
will be deemed participants in the solicitation of proxies from
stockholders in respect of the 2021 Annual Meeting of Stockholders.
Information regarding the names of the Company's directors and
executive officers and their respective interests in the Company by
security holdings or otherwise is set forth in the Company's Annual
Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on
March 29, 2021 and the Company's
Quarterly Report on Form 10-Q filed with the SEC on August 16, 2021. To the extent holdings of such
participants in the Company's securities have changed since the
amounts described in the foregoing reports, such changes have been
reflected on Initial Statements of Beneficial Ownership on Form 3
or Statements of Change in Ownership on Form 4 filed with the SEC.
These documents can be obtained free of charge from the sources
indicated above. Additional information regarding the interests of
these participants in any proxy solicitation and a description of
their direct and indirect interests, by security holdings or
otherwise, will also be included in any proxy statement and other
relevant materials to be filed with the SEC, if and when they
become available.
Contacts
Or Kles, CFO
ir@mysizeid.com
Charlotte Kiaie, MKA
ckiaie@mkacomms.com
View original
content:https://www.prnewswire.com/news-releases/my-size-enters-cooperation-agreement-and-resolves-litigation-with-custodian-ventures-301417231.html
SOURCE My Size Inc.