LogicMark, Inc. Announces Reverse Stock Splits

Core Viewpoint - LogicMark, Inc. has announced a reverse stock split of its common stock at a ratio of 1-for-25 to comply with Nasdaq's minimum bid price requirement [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split for both common and Series C preferred stock was approved during a Special Meeting of Stockholders on October 1, 2024 [2] - The reverse stock split is intended to ensure compliance with Nasdaq's $1.00 per share minimum bid price requirement for continued listing [2][3] - The common stock will begin trading on a split-adjusted basis on November 19, 2024, under a new CUSIP number [2] Group 2: Management Commentary - The CEO of LogicMark emphasized that the primary purpose of the reverse split is to maintain Nasdaq listing and to position the company for future product launches [3] Group 3: Company Overview - LogicMark, Inc. specializes in personal emergency response systems (PERS) and health communication devices, aiming to create a Connected Care Platform [5] - The company's products are designed to enable individuals to receive care at home and support aging in place [5] - LogicMark has contracts with the U.S. Veterans Health Administration and the U.S. General Services Administration for product distribution [5]