LogicMark, Inc. - LGMK STOCK NEWS

LogicMark (Nasdaq: LGMK) announced a 1-for-25 reverse stock split for both its common stock and Series C preferred stock, approved by shareholders on October 1, 2024. The split aims to comply with Nasdaq's $1.00 minimum bid price requirement for continued listing. Trading on a split-adjusted basis will begin on November 19, 2024, with the splits becoming effective at 5:00 p.m. Eastern Time on November 18, 2024. The company, which provides personal emergency response systems and health communications devices, expects this move to support its position for launching new products.

LogicMark, a provider of personal safety and emergency response systems, reported strong Q3 2024 financial results. Revenues rose 14% year-over-year to $2.7 million, driven by increased sales of the Guardian Alert 911 Plus and the new Freedom Alert Mini. Gross profit increased 13% to $1.8 million, maintaining a gross margin of 67%. Operating expenses remained flat at $3.4 million, with a 6% decline from Q2 2024. The company reported a net loss of $1.6 million, compared to $1.5 million in Q3 2023, and an adjusted EBITDA loss of $0.8 million, an improvement from a $1.1 million loss last year. As of September 30, 2024, cash and cash equivalents stood at $5.6 million. The company also completed a $4.5 million registered secondary offering in August. A reverse stock split was approved in October to regain Nasdaq compliance. Additionally, a Rights Agreement was enacted to protect against hostile takeovers.

LogicMark (Nasdaq: LGMK) has announced a strategic partnership with Black Knight Medical, a Service-Disabled Veteran-Owned Small Business (SDVOSB), to enhance access to medical alert devices for veterans across the U.S. The collaboration will leverage Black Knight Medical's expertise in medical supply distribution and government contracting. Under the agreement, both companies will jointly bid for government contracts, with LogicMark gaining preferential status for Department of Veterans Affairs (VA) contracts. The partnership will increase the availability of LogicMark's medical alert devices, including the Freedom Alert Mini and Guardian Alert series, to veterans nationwide.

LogicMark (LGMK) has implemented a Shareholder Rights Agreement with Nevada Agency and Transfer Company in response to Winvest Investment Fund's recent actions. This decision follows Winvest's claim of owning approximately 67% of LogicMark's common stock and its attempt to change company bylaws and board composition. LogicMark disputes Winvest's ownership claims and states their actions violate state and federal laws. The Rights Agreement includes a 'poison pill' provision triggered when any entity acquires 15% or more of outstanding shares, aiming to protect shareholder value while maintaining flexibility for Board-approved partnerships or acquisitions.

LogicMark (NASDAQ: LGMK) will release its third quarter 2024 financial results on November 12, 2024, after market close. CEO Chia-Lin Simmons and CFO Mark Archer will host an investor call and webcast at 1:30 PM PST / 4:30 PM EST on the same day. The company, which provides emergency response systems and health communications devices, will make the results available through their investor relations website. Investors can participate via conference call using toll-free (800) 715-9871 or toll (646) 307-1963 with Conference ID: 7663305.

LogicMark, Inc. (Nasdaq: LGMK) reported its Q2 2024 financial results, showing slight revenue growth to $2.3 million. The company's gross margin decreased to 67% from 69% in Q2 2023. Operating expenses reduced by 6% to $3.6 million. The net loss per share improved to $0.96 from $1.83 in the same period last year. LogicMark's cash balance as of June 30, 2024, was $3.0 million.

The company has expanded its product line to include five hardware products with advanced features like fall detection and geo-fencing. LogicMark's intellectual property portfolio has grown, with 14 patents filed since June 2021. The company is focusing on the growing personal safety and elder care markets, leveraging trends such as aging in place and increased demand for healthcare workers.

LogicMark, Inc. (Nasdaq: LGMK), a provider of personal emergency response systems and health communications devices, has announced the closing of a $4.5 million public offering priced at-the-market. The offering consisted of 9,670,000 units, each priced at $0.4654 and comprising one share of common stock (or pre-funded warrant), one Series A warrant, and one Series B warrant. Both warrant series are exercisable at $0.4654 per share, with Series A expiring in 5 years and Series B in 2.5 years from issuance. The company plans to use the net proceeds for working capital and general corporate purposes. Roth Capital Partners acted as the exclusive placement agent for this offering.

LogicMark Inc (Nasdaq: LGMK) has announced the pricing of a $4.5 million public offering and scheduled a special stockholder meeting for October 1, 2024. The offering consists of 9,670,000 units priced at $0.4654 each, with each unit including one share of common stock (or pre-funded warrant), one Series A warrant, and one Series B warrant. The company plans to use the net proceeds for working capital and general corporate purposes. The offering is expected to close on August 5, 2024.

The special stockholder meeting will seek approval for a reverse stock split and the issuance of 20% or more of common shares related to the offering, aiming to maintain compliance with Nasdaq listing requirements. Stockholders of record as of August 5, 2024, will be eligible to vote.

LogicMark, Inc. (NASDAQ: LGMK), a provider of personal emergency response systems and health communications devices, has announced it will release its Q2 2024 financial results on August 13, 2024, after market close. CEO Chia-Lin Simmons and CFO Mark Archer will host a live investor call and webcast at 1:30 PM PDT / 4:30 PM EDT on the same day to review the results.

Investors can participate in the conference call by registering for dial-in details. The live webcast will be available on LogicMark's Investor Relations website. Press release, SEC filings, and webcast replay will also be accessible on the investor relations website.