MIND revises preferred stock conversion to 3.9 common shares; meeting rescheduled to June 13

MIND TECHNOLOGY, INC

Each preferred share convertible into 3.9 common shares (up from 2.7) at Board's discretion before July 31, 2024.
Virtual special meeting of preferred stockholders rescheduled to June 13, 2024; record date April 26, 2024.
Two-thirds (66 2/3%) approval required from preferred stockholders; common holders not entitled to vote.
Revised conversion implies ~112% premium to preferred stock market value as of March 3, 2024.
Preferred stockholders would hold ~82% of common stock post-conversion; management cites improved financial flexibility.

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