CORRECTED: GROUP MOBILE RECEIVES $2 MILLION MINIMUM ORDER COMMITMENT FROM SHARPLOGIXX
02 December 2016 - 4:07AM
NEW YORK - December 1, 2016 - FORM
Holdings Corp. (NASDAQ: FH), a diversified holding company focused
on acquiring, investing in and developing small to mid-market
businesses, today announced that its wholly owned subsidiary, Group
Mobile, has received a $2 million minimum order commitment as
exclusive partner for rugged product solutions from
SharpLogixx.
Group Mobile will provide SharpLogixx with a
custom solution of rugged hardware and services to improve workflow
and mitigate the stress associated with the wide range of extreme
environments in which SharpLogixx operates. Group Mobile will
manage the product solutions roadmap for SharpLogixx, with rugged
laptops, tablets, associated peripherals and end-to-end services
including staging, deployment and lifecycle IT support.
About SharpLogixx, LLC
SharpLogixx is an integrator focused on digital
x-ray hardware and software in several specialized
markets. In the mobile security military and law
enforcement markets, SharpLogixx focuses on providing diagnostic
imaging technology unique to the market. For more information,
visit www.SharpLogixx.com.
About FORM
Holdings Corp.
FORM Holdings Corp. (NASDAQ: FH)
is a publicly held diversified holding company that specializes in
identifying, investing in and developing companies with superior
growth potential. FORM's current holdings include Group Mobile, FLI
Charge, Infomedia and intellectual property assets. Group Mobile is
a provider of rugged, mobile and field-use computing products,
serving customers worldwide. FLI Charge designs, develops,
licenses, manufactures and markets wireless conductive power and
charging solutions. Infomedia is a leading provider of customer
relationship management and monetization technologies to mobile
carriers and device manufacturers. FORM Holdings' intellectual
property division is engaged in the development and monetization of
intellectual property. To learn more about Form Holdings Corp.,
visit: www.FormHoldings.com.
Forward-Looking
Statements
This press release includes
forward-looking statements, which may be identified by words such
as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative
of such terms, or other comparable terminology. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein. Statements in this
press release regarding the proposed merger between FORM and
XpresSpa; the expected timetable for completing the transaction;
the potential value created by the proposed merger for FORM's
stockholders and XpresSpa's equity holders; the potential of FORM's
business after completion of the merger; XpresSpa's projected
revenue, the ability to raise capital to fund operations and
business plan; the continued listing of FORM's securities on the
Nasdaq Capital Market; the potential impact on FORM's common stock
if FORM determines to repay the preferred stock to be issued in
connection with the proposed merger in stock rather than cash;
market acceptance of FORM products; the collective ability to
protect intellectual property rights; competition from other
providers and products; FORM's management and board of directors
after completion of the Merger; and any other statements about
FORM's or XpresSpa's management teams' future expectations,
beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. There are a number of important factors that
could cause actual results or events to differ materially from
those indicated by such forward-looking statements, including, but
not limited to: the risk that FORM and XpresSpa may not be able to
complete the proposed transaction; the inability to realize the
potential value created by the proposed merger for FORM's
stockholders; FORM's inability to maintain the listing of its
securities on the Nasdaq Capital Market after completion of the
merger; the potential lack of market acceptance of FORM's products;
FORM's inability to monetize and recoup FORM's investment with
respect to assets and other businesses that that were acquired or
will be acquired in the future; general economic conditions and
level of information technology and consumer electronics spending;
unexpected trends in the mobile phone and telecom computing
industries; the potential loss of one or more of FORM's significant
Original Equipment Manufacturer ("OEM") suppliers, the potential
lack of market acceptance of FORM's products; market acceptance,
quality, pricing, availability and useful life of FORM's products
and services, as well as the mix of FORM's products and services
sold; potential competition from other providers and products;
FORM's inability to license and monetize FORM's patents, including
the outcome of litigation; FORM's inability to develop and
introduce new products and/or develop new intellectual property;
FORM's inability to protect FORM's intellectual property rights;
new legislation, regulations or court rulings related to enforcing
patents, that could harm FORM's business and operating results;
FORM's inability to retain key members of its management team; and
other risks and uncertainties and other factors discussed from time
to time in our filings with the Securities and Exchange Commission
("SEC"), including FORM's Annual Report on Form 10-K for the year
ended December 31, 2015 filed with the SEC on March 10, 2016.
Investors and stockholders are also urged to read the risk factors
set forth in the proxy statement/prospectus carefully when they are
available. FORM expressly disclaims any obligation to publicly
update any forward-looking statements contained herein, whether as
a result of new information, future events or otherwise, except as
required by law.
Important
Additional Information Filed with the SEC
This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities of FORM, or XpresSpa or the solicitation of any vote
or approval. In connection with the proposed transaction, FORM
filed a Registration Statement on Form S-4, as amended, declared
effective by the SEC on October 27, 2016 and a final proxy
statement/prospectus on October 28, 2016. The proxy
statement/prospectus contains important information about FORM,
XpresSpa, the transaction and related matters. FORM has mailed or
otherwise delivered the proxy statement/prospectus to its
stockholders and the stockholders of XpresSpa. Investors and
security holders of FORM and XpresSpa are urged to read carefully
the proxy statement/prospectus relating to the Merger (including
any amendments or supplements thereto) in its entirety, because it
contains important information about the proposed transaction.
Investors and security holders of
FORM are able to obtain free copies of the proxy
statement/prospectus for the proposed Merger and other documents
filed with the SEC by FORM through the website maintained by the
SEC at www.sec.gov.
FORM and XpresSpa, and their
respective directors and certain of their executive officers, may
be deemed to be participants in the solicitation of proxies in
respect of the transactions contemplated by the Merger Agreement
between FORM and XpresSpa. Information regarding FORM's directors
and executive officers is contained in the proxy
statement/prospectus. Information regarding XpresSpa's directors
and officers and a more complete description of the interests of
XpresSpa's directors and officers in the proposed transaction is
available in the proxy statement/prospectus filed by FORM with the
SEC in connection with the proposed transaction.
Contacts
FORM Holdings
212-309-7549
info@FORMHoldings.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: FORM Holdings Corp. via Globenewswire
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