MIND Technology Further Adjourns Virtual Special Meeting of Preferred Stockholders

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[{"type":"text","content":"THE WOODLANDS, Texas, June 27, 2024 /PRNewswire/ -- MIND Technology, Inc. (\"MIND\" or the \"Company\") (Nasdaq: MIND; MINDP) reconvened its virtual special meeting of holders of its 9% Series A Cumulative Preferred Stock (the \"preferred stock\") on June 27, 2024. The meeting was then further adjourned. Preferred stockholders had previously approved a proposal to adjourn the special meeting one or more times to give the Company's management additional time to solicit additional proxies to approve an amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock (the \"Preferred Stock Proposal\"). If the Preferred Stock Proposal is approved, the proposed amendment provides that each share of preferred stock may be converted into 3.9 shares of common stock, $0.01 par value per share (the \"common stock\") at the sole discretion of the Company's Board of Directors at any time prior to July 31, 2024. The virtual special meeting will be reconvened on Thursday, July 11, 2024 at 09:00 a.m. Central Time.\n\nThe record date for determining preferred stockholders eligible to vote at the virtual special meeting remains April 27, 2024.\nMIND strongly encourages any eligible preferred stockholder that has not yet voted their shares or provided voting instructions to their broker or other record holder, to do so promptly. No action is required by any preferred stockholder who has previously delivered a proxy and who does not wish to revoke or change that proxy.\nRob Capps, President and CEO of MIND, stated, \"We continue to see a strong positive response to the Preferred Stock Proposal. However, there remains a significant number of unvoted shares. Due to the diverse holdings of the preferred stock and the requirement to obtain the affirmative vote of two-thirds of the outstanding shares, we think it appropriate to further adjourn the virtual special meeting and provide additional time to solicit proxies.\"\nAbout MIND Technology\nMIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit, designs, manufactures, and sells specialized, high performance, marine exploration and sur...

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