Mobivity raises $3.85M convertible debt, plans 1-for-25,000 reverse split to go private

MOBIVITY HOLDINGS CORP.

• Issued $3.85M senior secured convertible notes at 15% simple interest, maturing July 31, 2028.
• Notes sold to director Thomas B. Akin ($2.35M) and 5% holder Bruce E. Terker ($1.5M) for working capital.
• Board approved 1-for-25,000 reverse split; cash out small holders (<25,000 shares) at $0.29/share.
• Reverse split is part of plan to deregister SEC reporting and go private; special meeting expected Sept 2025.
• Directors/executives (~37% ownership) will vote FOR; aggregate cost ~$1.5M including ~$1.01M for cashed-out shares.