Analyst Summary
- Michael J. Ferrantino, Jr. resigned as Chief Executive Officer and Director effective February 17, 2025.
- Cameron Pforr, the Company’s Chief Financial Officer, was appointed as Interim Chief Executive Officer.
- M-tron announced a rights offering to distribute transferable subscription rights to purchase up to 582,233 shares of Common Stock.
- The record date for the rights offering is March 3, 2025.
- Each stockholder will be issued one right for each outstanding share of Common Stock owned on the Record Date; five rights can purchase one share of Common Stock.
Potential Implications
Stock Price
- The rights offering could dilute the value of existing shares if not fully subscribed.
- Trading in the Rights on NYSE American is expected to begin on a “when-issued” basis on February 28, 2025 under the symbol “MPTI RTWI.”
- Trading in the Rights on NYSE American is expected to begin on a “regular way” basis on March 5, 2025 under the symbol “MPTI RT” and continue until the close of trading on NYSE American on March 20, 2025.