OXFORD, Conn., Sept. 29, 2021 /PRNewswire/ -- Nxt-ID, Inc.
(NASDAQ: NXTD) (the "Company" or "NXT-ID"), a provider of
technology products and services for healthcare applications, today
sent an important letter to its shareholders from the Company's
Chief Executive Officer, Chia-Lin
Simmons, regarding the upcoming Special Meeting of the
Company's shareholders ("Special Meeting"), scheduled to be held on
Friday, October 15, 2021.
The Company is asking its shareholders to vote today
"FOR" the reverse split proposals relating to NXT-ID's
common stock and Series C preferred stock so that it can regain
compliance with Nasdaq requirements and continue to be listed on
this major stock exchange. The need to approve each of the
reverse stock split proposals is urgent; without such approval, the
Company expects that its stock will be delisted from Nasdaq as soon
as October 18, 2021, which would
adversely affect the ease of trading and value of all of the
Company's securities, including that of its common stock.
The letter to shareholders provides information regarding the
two reverse stock split proposals, why they are necessary, and how
a vote "FOR" each of them will allow NXT-ID to maintain
steady access to capital to pursue its new management team's growth
strategies. Shareholders can learn more about the two reverse stock
split proposals and stay up to date regarding this important vote
by visiting the Company's newly-launched microsite:
www.voteFORnxt-id.com.
Additional Information
Shareholders as of the Special Meeting's record date,
September 16, 2021, will be entitled
to vote at the Special Meeting. Shareholders are encouraged to read
about the reverse stock split proposals in the Company's Definitive
Proxy Statement on Schedule 14A that was filed with the Securities
and Exchange Commission ("SEC") on September
17, 2021. The Definitive Proxy Statement can also be found
at www.voteFORnxt-id.com. Shareholders who have any questions or
need assistance voting their shares should contact the Company's
proxy solicitor, Laurel Hill Advisory Group, LLC, at
888-742-1305.
Registered Holders
If your shares are registered directly in your name with
NXT-ID's transfer agent, VStock Transfer, LLC, you are considered
the "stockholder of record" of those shares and the proxy statement
for the Special Meeting is being sent directly to you by NXT-ID.
Shareholders of record (that is, shareholders who hold their shares
in their own name) can 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 by internet, go
to http://www.vstocktransfer.com/proxy to
complete an electronic proxy card. Have your proxy card in hand
when you access the website and follow the instructions to cast a
vote. Your internet proxy must be received by 11:59 p.m. Eastern Time on October 14, 2021
to be counted.
Beneficial Owners of Shares Held in Street Name
If your shares are held in "street name" (that is, in the name
of a bank or broker or other holder of record), you will receive
instructions from the holder of record that you must follow in
order for your shares to be voted. Internet voting will also be
offered to shareholders owning shares through most banks and
brokers. If your shares are held with a brokerage firm or custodial
bank, you are considered the "beneficial owner" of shares held in
street name, and the proxy statement for the Special Meeting was
mailed or emailed to you by your broker, bank or nominee, who is
considered the stockholder of record of those shares. As a
beneficial owner, you have the right to direct your broker, bank or
nominee on how to vote the shares held in your account.
However, holders of shares held in "street name" may not vote
these shares in person at the Special Meeting unless such holders
request and obtain a legal proxy from such bank, broker or other
holder of record.
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 behavior-metric
identity verification, security and privacy, encryption and data
protection, payments, miniaturization, sensor technologies and
healthcare applications. Through its subsidiary, LogicMark LLC,
NXT-ID is a manufacturer and distributor of non-monitored and
monitored personal emergency response systems sold through
dealers/distributors and the United States Department of Veterans
Affairs. Learn more about NXT-ID at www.NXT-ID.com. For NXT-ID
corporate information, contact: info@NXT-ID.com.
Forward-Looking Statements
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 with respect to the successful execution of the
Company's business strategy. The Company's actual results could
differ materially from those anticipated in these forward-looking
statements as a result of various factors. Such risks and
uncertainties include, among other things, our ability to establish
and maintain the proprietary nature of our technology through the
patent process, as well as our ability to possibly license from
others patents and patent applications necessary to develop
products; the availability of financing; the Company's ability to
implement its long range business plan for various applications of
its technology; the Company's ability to enter into agreements with
any necessary marketing and/or distribution partners; the impact of
competition, the obtaining and maintenance of any necessary
regulatory clearances applicable to applications of the Company's
technology; the Company's ability to maintain its Nasdaq listing
for its common stock; and management of growth and other risks and
uncertainties that may be detailed from time to time in the
Company's reports filed with the SEC.
Investor / Media Contacts:
Jeremy Jacobs / Alan Oshiki
Abernathy MacGregor
jrj@abmac.com / aho@abmac.com
Proxy Contact:
Donna Ackerly
Laurel Hill Advisory Group
888-742-1305
NXT-id@laurelhill.com
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SOURCE NXT-ID, Inc.