MY SIZE, INC. (NYSE:MY) Files An 8-K Other EventsItem 8.01.
On February 22, 2017, the Company filed a report on the Tel Aviv Stock Exchange which contained the following statement:
Per the convertible loan agreement dated May 22, 2016, entered between the Company and a certain private investor (“the Investor”), the Investor undertook to provide the Company with a loan for a total amount of 495,000 USD, convertible into 141,428 common shares of the Company at an exercise price of 3.5 USD per share (“the Agreement”).
To ensure his obligations under the Agreement, the Investor provided the Company with a third-party guaranty and postdated checks.
The Investor and the Guarantor failed to fulfill their obligations under the Agreement and didn’t provide the Company with the loan. The bank returned the checks that the Company tried to deposit.
The Company’s attempts to reach amicable solution to resolve the breach of the Agreement, failed.
Therefore, the Company gave today a written notice to the Investor and the Guarantor, that unless the full payment of all due amounts is made by February 27, 2017, that will constitute a grave and fundamental breach of the Agreement and the Company shall immediately commence appropriate legal action to protect its interest.
MY SIZE, INC. (NYSE:MY) Recent Trading Information
MY SIZE, INC. (NYSE:MY) closed its last trading session at with 701,760 shares trading hands.
