Today’s MICT registration statement amends a May 17, 2021 filing and relates to the registration of a portion of issued restricted shares and the registration of a new shelf registration statement rather than new issuance of stock

Rhea-AI Summary

MICT, Inc. (Nasdaq: MICT) filed an amendment to its S-3 registration statement on July 7, 2021, clarifying two purposes: registering a portion of previously issued restricted shares and establishing a new shelf registration to capitalize on future growth opportunities. This amendment does not affect the current number of shares outstanding. MICT operates through GFH Intermediate Holdings and Micronet, focusing on fintech and telematics, respectively.

Positive

• Establishment of a new shelf registration statement to explore growth opportunities.

Negative

• None.

MONTVALE, N.J., July 07, 2021 (GLOBE NEWSWIRE) -- Today MICT, Inc. (Nasdaq: MICT) (“MICT” or the “Company”) filed an amendment to the S-3 registration statement filing made on May 17, 2021. The Company again wishes to clarify the dual purposes of that filing, which are as follows: (i) to register a portion of the restricted shares it has already issued; and (ii) to register a new shelf registration statement to enable it to take advantage of potential growth opportunities in the future. The filing does not have any effect on the Company’s number of shares presently issued and outstanding.

About MICT, Inc.

MICT, Inc. (NasdaqCM: MICT) operates through its subsidiaries, GFH Intermediate Holdings Ltd ("GFHI") and its various fully owned subsidiaries or VIE structures. And Micronet. GFHI's versatile proprietary trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Primary areas of focus include online brokerage for equities trading and sales of insurance products in several high-growth foreign markets including Asia where GFH owns a substantial proprietary database of users. Micronet operates in the growing telematics and commercial Mobile Resource Management (MRM) market, mainly in the United States and Europe. Micronet designs, develops, manufactures and sells mobile computing solutions that provide fleet operators and field workforces with computing solutions in challenging work environments.

Forward-looking Statement

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. All statements other than statements of historical fact contained in this press release are forward-looking statements. The words “believe,” “may” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, business prospectus, growth strategy and liquidity. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in the Company’s annual report on Form 10-K for the year ended December 31, 2020 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contact information: Tel: (201) 225-0190
info@mict-inc.com

FAQ

What is MICT's recent press release about?

MICT's recent press release announces an amendment to its S-3 registration statement, clarifying its purpose to register existing restricted shares and create a new shelf registration for future growth.

When did MICT file the amendment to its S-3 registration statement?

MICT filed the amendment to its S-3 registration statement on July 7, 2021.

How does the amendment affect the number of shares MICT has outstanding?

The amendment to the S-3 registration statement does not affect the number of shares MICT currently has issued and outstanding.

What are MICT's main business areas?

MICT operates primarily in fintech and telematics, focusing on online brokerage and mobile resource management solutions.

What opportunities does the new shelf registration intend to capture?

The new shelf registration is intended to enable MICT to take advantage of potential growth opportunities in various markets in the future.