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Meta Materials Inc. - MMAT STOCK NEWS

Welcome to our dedicated page for Meta Materials news (Ticker: MMAT), a resource for investors and traders seeking the latest updates and insights on Meta Materials stock.

Meta Materials Inc. (NASDAQ: MMAT) is a forward-thinking advanced materials and nanotechnology company focused on creating sustainable, highly functional materials that transform the way we interact with light and other forms of energy.

META's proprietary portfolio includes products such as NANOWEB, a transparent conductive film, holoOPTIX, ARfusion, metaAIR, and glucoWISE. These innovations span various applications from consumer electronics and 5G communications to aerospace, automotive, and clean energy.

Recent Achievements: META announced a 1-for-100 reverse stock split effective January 29, 2024, aiming to comply with Nasdaq's $1.00 per share minimum closing price requirement.

Current Projects and Financial Condition: In Q4 2023, META reported a 55% revenue increase to $2.2 million compared to the previous year. The company is driving growth across four main business lines including authentication solutions, wide area motion imagery systems, and transparent conductive films, with partnerships like the one with Panasonic Industry for NANOWEB production.

Strategic Moves: Recently, the Board of Directors approved a workforce reduction of about 80% to address liquidity challenges and financing needs. The company is exploring strategic alternatives including asset divestitures and potential sale.

Legal and Regulatory Actions: META is actively pursuing legal action against parties involved in alleged market manipulation, supported by findings from Christian Attar and Warshaw Burstein law firms.

META's commitment to innovative sustainable science continues to drive advancements in everyday technologies, making them smarter and more efficient.

News

Meta Materials Releases Board Letter to Shareholders

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Meta Materials Inc. (META) released a message to shareholders addressing their concerns. The company is focused on providing candid answers to the most pressing concerns of its shareholders, including updates on short-selling/FINRA concerns and plans for future growth and success.
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Meta Materials Clarifies Potential Impacts of Reverse Stock Split Proposal

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Meta Materials Inc. (MMAT) provided clarification on the potential impacts of Proposal 3: Approval of a Reverse Stock Split, to be voted on at the 2023 Annual Meeting of Stockholders. The reverse split is aimed at maintaining the Company's Nasdaq listing and is contingent on shareholder approval. The Board believes it is necessary to facilitate technology production, manufacturing, and sales. Shareholder support is crucial for the success of this proposal.
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Meta Materials Announces $6.0 Million Registered Direct Offering

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Meta Materials Inc. (META) announced a registered direct offering of 75.0 million shares of common stock at an offering price of $0.08 per share, along with warrants to purchase 75.0 million shares at an exercise price of $0.095 per share. The gross proceeds are expected to be $6.0 million, with the net proceeds intended for technology commercialization, sales efforts, and general corporate purposes.
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Meta Materials Receives Two International Hologram Manufacturers Association -IHMA Awards

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Meta Materials Inc. (MMAT) announced that its QUANTUM stripe authentication product won two awards (Best Origination and Best in Show) at the 2023 International Hologram Manufacturers Association - IHMA Awards. The QUANTUM stripe is a revolutionary banknote security product based on META's award-winning KolourOptik technology, ensuring next-generation security and authentication in banknote production. According to a Banknote Industry News survey, the volume of banknotes in circulation grew by 4.5% in 2022 on a global basis compared with 2021, and is expected to reach nearly $22.9 billion by 2027. META's CEO Uzi Sasson emphasized the industrial applications of their authentication products within banknote, ID, and brand markets, highlighting their strategic focus on sales, marketing, and R&D among their core business lines.
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Meta Materials Announces Financial Results for the Third Quarter 2023

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Meta Materials Inc. (MMAT) Reports Q3 2023 Revenue Growth and Cost Cutting Efforts
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Meta Materials to Showcase Wide Area Motion Imagery System at Dubai Air Show

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Meta Materials Inc. (MMAT) will showcase its VLEPSIS® airborne EO wide-area motion imagery (WAMI) system at the Dubai Air Show, November 13-17, 2023. The VLEPSIS platform provides large area video coverage with AI-based multi-object tracking and DVR-like analytical capability. It promises to fill an important gap in overhead observation and addresses multi-billion-dollar defense and commercial markets.
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Meta Materials Announces Results from Strategic Restructuring, Focus on Growth Priorities

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Meta Materials Inc. (NASDAQ:MMAT) announced preliminary positive cost-cutting results from its restructuring, focusing on core business lines generating revenue and those expected to do so soon. The board approved a revised operating plan to preserve runway into 2024 and beyond. The company continues to work on its most productive business lines, including Photonic Material, Electro-Optics, and Battery Materials. META also announced leadership transitions and plans to spin off non-core business lines to capture and preserve capital for R&D and core products, with expected annualized cost savings of $20 to 30 million.
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Meta Materials Appoints Ms. Jennifer Cheraso as Chief Human Resources Officer

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Meta Materials Inc. appoints Jennifer Cheraso as Chief Human Resources Officer.
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Meta Materials Appoints Seasoned Executive, Jim Fusaro, as New CEO to Drive Next Stage of Growth

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Meta Materials Inc. appoints Jim Fusaro as CEO, replacing George Palikaras
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Meta Materials Appoints Tech Industry Veteran, Philippe Morali to its Board of Directors

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Meta Materials Inc. appoints Philippe Morali to its Board of Directors
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FAQ

What is the current stock price of Meta Materials (MMAT)?

The current stock price of Meta Materials (MMAT) is $2.59 as of August 21, 2024.

What is the market cap of Meta Materials (MMAT)?

The market cap of Meta Materials (MMAT) is approximately 3.5M.

What does Meta Materials Inc. specialize in?

Meta Materials Inc. specializes in advanced materials and nanotechnology, creating sustainable, highly functional materials for various industries.

What products does Meta Materials Inc. offer?

META offers products like NANOWEB, holoOPTIX, ARfusion, metaAIR, and glucoWISE, catering to applications in consumer electronics, 5G communications, aerospace, automotive, and clean energy.

What recent achievements has Meta Materials Inc. announced?

META recently announced a 1-for-100 reverse stock split, aiming to comply with Nasdaq's $1.00 per share minimum closing price requirement.

How is Meta Materials Inc. performing financially?

In Q4 2023, META reported a revenue increase of 55%, amounting to $2.2 million. The company is focused on driving growth across several business lines.

What strategic moves has Meta Materials Inc. made recently?

META's Board of Directors approved a significant workforce reduction to address liquidity issues and is exploring strategic alternatives including asset divestitures and potential sale.

Is Meta Materials Inc. involved in any legal actions?

Yes, META is pursuing legal action against parties involved in alleged market manipulation, supported by law firms Christian Attar and Warshaw Burstein.

What partnerships does Meta Materials Inc. have?

META collaborates with Panasonic Industry for manufacturing NANOWEB and has other confidential partnerships in final stages of production testing.

What industries does Meta Materials Inc. serve?

META serves various industries including aerospace and defense, consumer electronics, 5G communications, automotive, and clean energy.

What is the focus of Meta Materials Inc.'s research and development?

META focuses on developing innovative sustainable materials that can dramatically alter light properties, enhance energy efficiency, and improve everyday products.

How can investors stay updated about Meta Materials Inc.?

Investors can stay updated by visiting META's website, registering for webcasts, and following their latest press releases and financial reports.

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Meta Materials Inc.

Nasdaq:MMAT

MMAT Rankings

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MMAT Stock Data

3.52M
6.70M
7.15%
3.3%
7.23%
Electronic Components
Semiconductors & Related Devices
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