UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
(Address, including zip code, of principal executive offices)
Registrant’s telephone number, including area code | ( |
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item 8.01 | Other Events |
On, March 23, 2023, Moving iMage Technologies, Inc. (the “Company”) announced that its Board of Directors re-authorized a stock repurchase program. Under the stock repurchase program, the Company may repurchase up to $1 million of its outstanding common stock.
A copy of the press release dated March 23, 2023, announcing the stock repurchase program is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
99.1 | Press release dated March 23, 2023 |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Moving iMage Technologies, Inc. | ||
Date: March 23, 2023 | By: | /s/ Phil Rafnson |
Name: | Phil Rafnson | |
Title: | Chief Executive Officer |
Exhibit 99.1
Moving iMage Technologies (MiT) Board of Directors Re-News $1 Million Share Repurchase Program Authorization for 12 Months
FOUNTAIN VALLEY, Calif. March 23, 2023 --(BUSINESS WIRE)-- Moving iMage Technologies (NYSE: MITQ) (“MiT”), a leading digital cinema technology, today announced that its Board of Directors renewed its prior authorization of a share repurchase program permitting the Company to purchase up to an aggregate of $1 million of common stock over the next 12 months.
Purchases made under the program will be made from time to time, at the Company’s discretion, in the open market, through privately negotiated transactions or through other manners as permitted by federal securities laws. The timing, manner, price and amount of any repurchases will be determined by the Company and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors.
The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate MiT to purchase any particular number of shares.
About Moving iMage Technologies
MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading provider of technology, products, and services to the Motion Picture Exhibition industry and is expanding into live entertainment venues and Esports. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary manufactured products is a leading provider of cup holders, trays, and other products to entertainment and sports venues. For more information, visit www.movingimagetech.com.
Forward-Looking Statements
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
Moving iMage Technologies Investor Relations and Media Contacts:
Brian Siegel, IRC®, M.B.A.
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com
X_#>
M&)_@'XRD>*-G62;#%02/W*=Z\1661!A9'4>@8BO
Cover |
Mar. 23, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 23, 2023 |
Entity File Number | 001-40511 |
Entity Registrant Name | Moving iMage Technologies, Inc. |
Entity Central Index Key | 0001770236 |
Entity Tax Identification Number | 85-1836381 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 17760 Newhope Street |
Entity Address, City or Town | Fountain Valley |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | 92075 |
City Area Code | 714 |
Local Phone Number | 751-7998 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.00001 par value |
Trading Symbol | MITQ |
Security Exchange Name | NYSEAMER |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
-8?20$3;8T.P6BP^0"X99K>]9!:G
]*8/B M'['?OS(+T?YB#L0W:/;.(5WXILT>T)FP[L\CX?]D>GJ;?^$N?_+F7\;_#5!+ M 0(4 Q0 ( -J*=U;Z&UL4$L! A0#% @ VHIW5KQ649N_$0 06< !( M ( !,!8 '1M,C,Q,#0Q-&0Q7SAK+FAT;5!+ 0(4 Q0 ( M -J*=U;CDIUP7 @ " ? 6 " 1\H !T;3(S,3 T,31D B,5]E>#DY+3$N:'1M4$L%!@ % 4 20$ *\P $! end