LogicMark, Inc. - LGMK STOCK NEWS

LogicMark, Inc. (NASDAQ: LGMK) held a Special Meeting of Stockholders on March 7, 2023, where all proposals were approved. Key approvals included ratifying BPM LLP as independent accountants for the fiscal year ending December 31, 2022, adopting the 2023 Stock Incentive Plan, and reincorporating from Delaware to Nevada. Additionally, shareholders approved two reverse stock splits for common and Series C preferred stocks. CEO Chia-Lin Simmons expressed optimism about shareholder support in advancing the company’s growth strategy. Detailed voting results are available in a Current Report filed with the SEC.

LogicMark, Inc. (NASDAQ: LGMK) has adjourned its Special Meeting of Stockholders from March 2, 2023, to March 7, 2023. This decision allows shareholders additional time to vote on proposals in the Proxy Statement filed on January 31, 2023. The company emphasizes the importance of each shareholder's vote, regardless of share ownership. Stockholders can vote online using their proxy control number. Those who voted against prior proposals are encouraged to reconsider their votes. Assistance is available from the proxy solicitor, Laurel Hill Advisory Group.

LogicMark, Inc. (NASDAQ: LGMK) announces the adjournment of its Special Meeting of Stockholders originally scheduled for February 28, 2023, now set for March 2, 2023. This postponement aims to provide stockholders additional time to vote on proposals detailed in the Proxy Statement filed on January 31, 2023. The Company emphasizes the importance of each stockholder's vote and encourages prompt participation. Those who need assistance with voting can contact the Company's proxy solicitor. The Company offers personal emergency response systems, enhancing care and confidence for users at home.

LogicMark, Inc. (Nasdaq: LGMK) has successfully closed a public offering consisting of 10,585,000 units and 3,440,000 pre-funded units, raising approximately $5.2 million in gross proceeds. Each unit includes one share of common stock and a warrant for one and a half shares, while pre-funded units include a pre-funded warrant and the same warrant structure. The offering was conducted under the SEC's registration statement and provides the underwriters with a 45-day option to purchase up to 2,103,750 additional shares. LogicMark specializes in personal emergency response systems, providing critical technology for healthcare.

LogicMark, Inc. (Nasdaq: LGMK) has priced an underwritten public offering of 10,585,000 units at $0.371 each, consisting of common stock and warrants, along with 3,440,000 pre-funded units. The gross proceeds from this offering are expected to be approximately $5.2 million before deducting expenses. The offering includes an overallotment option for underwriters to purchase additional shares and warrants. The closing date is anticipated for January 25, 2023. The offering is made under a registration statement declared effective by the SEC on January 23, 2023. Maxim Group LLC is managing the offering.

LogicMark, Inc. (Nasdaq: LGMK) has appointed Brady Farrell as Vice President of Sales, effective immediately. With extensive experience in MedTech, including leadership roles at KBK Healthcare Consulting and Avinger Medical, Farrell is expected to drive sales growth and expand distribution. CEO Chia-Lin Simmons expressed confidence in Farrell's capabilities to meet ambitious sales goals, while Farrell himself looks forward to contributing to the company's success within the care economy. LogicMark provides personal emergency response systems and has contracts with the U.S. government for its products.

LogicMark, Inc. (Nasdaq: LGMK) reported a 15% revenue growth for Q3 2022, reaching $2.8 million, largely due to increased sales to VA hospitals. The company saw a 51% rise in gross profit to $1.7 million and improved gross margin at 62%. However, net loss rose to $2.2 million, compared to $724,005 in the previous year. Operating costs surged 51%, driven by marketing and R&D expenses. The firm continues to expand its product offerings and intellectual property, recently hiring key personnel. Cash reserves stand at $9.3 million, with no debt reported.

LogicMark, Inc. (Nasdaq: LGMK) will release its third quarter 2022 financial results on November 10, 2022, after market close. A conference call will follow at 1:30 PM PDT / 4:30 PM EDT, where management will discuss the results and provide a corporate update, including a Q&A session. LogicMark is known for its personal emergency response systems and has contracts with the U.S. Veterans Health Administration and the General Services Administration, enabling distribution to government entities.

LogicMark (Nasdaq: LGMK) announced the appointment of Garett Hunter as its Senior Vice President of Marketing, effective October 17, 2022. Hunter brings over 20 years of marketing experience from roles at LifeMD and other companies. CEO Chia-Lin Simmons praised Hunter's extensive leadership and marketing expertise, emphasizing the company's goal to lead in the care economy. Hunter expressed enthusiasm about joining LogicMark and aims to enhance the company's market presence and revenue in the emerging care economy.