iGO Files Preliminary Proxy Materials Requesting Stockholder Approval for Reverse Stock Split
iGO (NASDAQ: IGOI) announced today that it has filed preliminary proxy materials requesting stockholder approval for an amendment to the Company's Certificate of Incorporation that would authorize the Board of Directors to effect a reverse stock split of the Company's common stock at a ratio in the range of 1:10 to 1:15, if deemed necessary. A reverse stock split may enable the Company to regain compliance with NASDAQ's $1.00 minimum bid price requirement and maintain its listing on the NASDAQ Capital Market.
As described in the preliminary proxy materials, iGO, Inc. will hold a special meeting of stockholders in Scottsdale, Arizona on Wednesday, January 23, 2013 at 10:00 a.m. local time to consider approval of the reverse stock split. The meeting will be held at the Company's headquarters located at 17800 North Perimeter Drive, Suite 200, Scottsdale, Arizona 85255. Stockholders of record at the close of business on December 24, 2012 will receive notice of the special meeting and be entitled to vote at the meeting. Further details of the special meeting and contemplated reverse stock split are set forth in the preliminary proxy materials filed today.
Definitive proxy materials for this special