Breaking News: Mega Matrix Corp. (MPU) Postpones Special Meeting to September 25, 2024
Mega Matrix Corp. (MPU), a prominent company in the motion picture and video tape production industry, has announced the adjournment of its special meeting of stockholders originally scheduled for September 18, 2024. The meeting was rescheduled to allow more time for stockholders to vote on a crucial proposal outlined in a proxy statement filed on August 16, 2024.
The adjourned Special Meeting is now scheduled to reconvene virtually on September 25, 2024, at 10:00 a.m. Pacific Time. Stockholders as of the record date, which remains July 29, 2024, are eligible to vote at the rescheduled meeting. The company has confirmed that no business was conducted on the original meeting date, and the same proposal will be discussed at the reconvened meeting.
Stockholders who have already cast their votes on the proposal are not required to vote again, unless they wish to change their initial vote. Mega Matrix Corp. highlights that proxies submitted before the original meeting date will still be valid for the reconvened meeting unless properly revoked. The company is actively seeking votes from its stockholders during this adjournment period.
In recent developments, Mega Matrix Corp. made headlines with several significant announcements. The company's CEO, Yucheng Hu, was awarded a $144,000 bonus by the board of directors for his outstanding leadership and contributions. Additionally, the Chief Operating Officer, Xiangchen (Steven) Gao, departed from the company due to personal reasons.
Moreover, Mega Matrix Corp.'s streaming platform, FlexTV, has achieved the third position in the App Store Entertainment Chart and Google Play Entertainment App rankings for free apps in Indonesia, showcasing its growing influence in the Asian market. The company also formed a partnership with South Korean media enterprise Neorigin Co., establishing a $10 million content fund to enhance the production and distribution of original short drama content.
Lastly, Mega Matrix Corp. has finalized agreements for a private placement expected to generate gross proceeds of around $1.5 million. The transaction involves the sale of 681,818 shares of common stock, along with series A and B warrants, with H.C. Wainwright & Co. serving as the exclusive placement agent for the offering. These recent developments highlight the ongoing business operations of Mega Matrix Corp.
In conclusion, the decisions and actions taken by Mega Matrix Corp. in the coming days can have a significant impact on its stock price and overall financial performance. Investors and stockholders should closely monitor the developments within the company and make informed decisions based on the latest news and updates. Stay tuned for more updates on Mega Matrix Corp. and its future prospects.