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SCOTTSDALE, Ariz., Dec. 20, 2012 (GLOBE NEWSWIRE) -- iGO, Inc. (Nasdaq:IGOI) announced today that it has filed preliminary proxy materials requesting stockholder approval for an amendment to the Company's Certificate of Incorporation that would authorize the Board of Directors to effect a reverse stock split of the Company's common stock at a ratio in the range of 1:10 to 1:15, if deemed necessary. A reverse stock split may enable the Company to regain compliance with NASDAQ's $1.00 minimum bid price requirement and maintain its listing on the NASDAQ Capital Market.
As described in the preliminary proxy materials, iGO, Inc. will hold a special meeting of stockholders in Scottsdale, Arizona on Wednesday, January 23, 2013 at 10:00 a.m. local time to consider approval of the reverse stock split. The meeting will be held at the Company's headquarters located at 17800 North Perimeter Drive, Suite 200, Scottsdale, Arizona 85255. Stockholders of record at the close of business on December 24, 2012 will receive notice of the special meeting and be entitled to vote at the meeting. Further details of the special meeting and contemplated reverse stock split are set forth in the preliminary proxy materials filed today.
Definitive proxy materials for this special meeting of stockholders are expected to be filed on or about December 31, 2012, subject to review from the Securities and Exchange Commission (SEC).
This press release is not a solicitation of stockholders or their votes on the proposed reverse split. iGO, Inc. urges investors to review the proxy statement and other information filed with the SEC because they contain important information regarding the matters to be voted on at the special meeting. These documents are available without charge on the SEC website at
www.sec.gov . A free copy of the preliminary proxy statement may also be obtained in the Investor Relations section of the Company's website at
www.igo.com . Investors should read the proxy statement carefully before making any voting decision.
About iGO, Inc.
iGO, Inc. offers a full line of innovative accessories for almost every mobile electronic device on the market. Whether a consumer wants to power, protect, listen to, share, cool, hold or connect to their device, iGO has the accessories they need. iGO is also a leader in developing eco-friendly power solutions based on its patented iGO Green® technology, which automatically reduces the wasteful and expensive standby, or "vampire," power consumed by electronic devices.