8-K: My Size Inc. Announces Delisting from Tel Aviv Stock Exchange, Shares to Transfer to Nasdaq

My Size, Inc. will delist from the Tel Aviv Stock Exchange (TASE) with trading ceasing on March 27, 2024, and the delisting effective March 31, 2024, while maintaining its Nasdaq listing.

Summary

• My Size, Inc. shareholders approved a voluntary delisting from the Tel Aviv Stock Exchange (TASE) on December 27, 2023.
• TASE confirmed the delisting request on January 11, 2024.
• The last day of trading on TASE will be March 27, 2024.
• The delisting is expected to be effective on March 31, 2024.
• My Size, Inc.'s common stock will continue to be listed on the Nasdaq Stock Market.
• All shares traded on TASE are expected to be transferred to Nasdaq for continued trading.
• The company will continue to file public reports with Nasdaq and the U.S. Securities and Exchange Commission.

Sentiment

Score: 7

Explanation: The announcement is a procedural step following a shareholder vote, and while it involves a delisting, it is not inherently negative as the company maintains its Nasdaq listing. The sentiment is neutral to slightly positive due to the consolidation of trading.

Positives

• The company's shares will continue to be traded on the Nasdaq Capital Market.
• The transfer of shares from TASE to Nasdaq ensures continued trading for all shareholders.

Negatives

• The company is delisting from the Tel Aviv Stock Exchange, which may reduce trading options for some investors.

Risks

• The delisting from TASE may cause temporary uncertainty for investors who primarily traded on that exchange.
• There is a risk of potential price volatility during the transition period.

Future Outlook

The company will continue to be listed on the Nasdaq and will continue to file public reports in accordance with the rules and regulations of the Nasdaq and the U.S. Securities and Exchange Commission.

Management Comments

• The company is moving its shares from TASE to Nasdaq to consolidate trading.

Industry Context

Companies sometimes delist from smaller exchanges to consolidate trading on larger, more liquid markets like Nasdaq, which can improve visibility and potentially attract a broader investor base.

Comparison to Industry Standards

• Delisting from one exchange while maintaining a listing on another is a common practice for companies seeking to streamline their trading venues.
• Many companies listed on both smaller and larger exchanges have chosen to consolidate their listings to improve efficiency and reduce costs.

Stakeholder Impact

• Shareholders who traded on TASE will need to transition to trading on Nasdaq.
• The company's employees and other stakeholders are not expected to be significantly impacted by this change.

Next Steps

• The company will complete the transfer of shares from TASE to Nasdaq.
• The company will continue to file public reports with Nasdaq and the SEC.

Key Dates

Keywords

delisting, Tel Aviv Stock Exchange, TASE, Nasdaq, stock transfer, My Size Inc., MYSZ