Custodian Ventures Delivers Open Letter To MYSZ Stockholders

Rhea-AI Summary

Custodian Ventures, the largest stockholder of My Size (NASDAQ: MYSZ) with approximately 9.99% ownership, has issued an open letter urging stockholders to unite against the decline in stockholder value and hold the board accountable. This statement precedes the upcoming 2021 Annual Meeting of Stockholders, with the date to be announced. The letter emphasizes the importance of stockholder engagement in corporate governance.

Positive

• Custodian Ventures represents the largest stockholder interest at approximately 9.99%, indicating significant investor backing.

Negative

• Custodian Ventures' issuance of an open letter points to dissatisfaction with current management and board performance, highlighting potential instability.

NEW YORK, June 9, 2021 /PRNewswire/ -- Custodian Ventures LLC (together with its affiliates, "Custodian Ventures"), as the largest stockholder of My Size, Inc. ("MYSZ" or the "Company") (NASDAQ: MYSZ) prior to the Company's recent dilutive transaction, with an ownership interest of approximately 9.99% of the Company's outstanding shares, today delivered an open letter encouraging MYSZ stockholders to unite to end the destruction of stockholder value at the Company and hold the Board of Directors and management accountable at the 2021 Annual Meeting of Stockholders, the date of which will be announced by the Company in the coming weeks.

The full text of Custodian Ventures' open letter to MYSZ stockholders can be accessed at www.saratogaproxy.com/MYSZ

About Custodian Ventures
Custodian Ventures LLC is an investment fund specializing in reverse merger and other event-driven opportunities.  Its Chief Executive Officer, David E. Lazar, brings domestic and international experience in operations, accounting, audit preparation, due diligence, capital restructuring, debt financing, and mergers and acquisitions.

Contacts:
David E. Lazar
(646) 768-8417

John Ferguson / Ann Marie Mellone
Saratoga Proxy Consulting LLC
(212) 257-1311
info@saratogaproxy.com

CERTAIN INFORMATION CONCERNING THE PARTICIPANTS

Custodian Ventures LLC ("Custodian Ventures"), together with the other participants named herein, intends to file a preliminary proxy statement and an accompanying WHTE proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of its slate of highly qualified director nominees at the 2021 annual meeting of stockholders My Size, Inc., a Delaware corporation (the "Company").

CUSTODIAN VENTURES STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

The participants in the proxy solicitation are anticipated to be Activist Investing LLC ("Activist Investing"), Custodian Ventures, David E. Lazar, David Aboudi, Patrick Loney and David Natan.

As of the date hereof, Activist Investing directly beneficially owns 421,553 shares of Common Stock, par value $0.001 per share, of the Company (the "Common Stock"). As of the date hereof, Custodian Ventures directly beneficially owns 790,300 shares of Common Stock.  As of the date hereof, Mr. Lazar directly beneficially owns 290,200 shares of Common Stock.  Mr. Lazar, as the sole member and Chief Executive Officer of each of Activist Investing and Custodian Ventures, may be deemed to beneficially own the 1,211,853 beneficially owned in the aggregate by Activist Investing and Custodian Ventures.  As of the date hereof, none of Messrs. Aboudi, Loney or Natan beneficially own any shares of Common Stock.

View original content:http://www.prnewswire.com/news-releases/custodian-ventures-delivers-open-letter-to-mysz-stockholders-301308658.html

SOURCE Custodian Ventures

FAQ

What is the recent action taken by Custodian Ventures regarding My Size (MYSZ)?

Custodian Ventures has delivered an open letter urging MYSZ stockholders to unite and hold the board accountable.

What percentage of My Size's stock does Custodian Ventures own?

Custodian Ventures owns approximately 9.99% of My Size's outstanding shares.

When will the 2021 Annual Meeting of Stockholders for MYSZ be held?

The date for the 2021 Annual Meeting has yet to be announced by the Company.

What are the goals of Custodian Ventures in their letter to MYSZ stockholders?

The goals include ending the destruction of stockholder value and ensuring accountability from the management and board.