MIND Technology delays meeting of holders of 9% cumulative preferreds

By Wendy Van Sickle

Columbus, Ohio, April 24 – MIND Technology, Inc.’s board of directors has postponed a special meeting of holders of its 9% series A cumulative preferred stock that had been scheduled to be held virtually on April 25, according to a news release.

The company said the board will determine a revised meeting date and a revised record date and deliver a new meeting notice when that has happened.

As previously reported, the company is seeking approval from holders of its 9% series A cumulative preferreds to convert the preferreds into common stock.

The holders will be asked to approve an amendment to the preferreds’ certificate of designations, preferences and rights under which each share of preferred stock would be converted into 2.7 shares of common stock before July 31.

The affirmative vote of two-thirds (66 2/3%) of the outstanding shares of preferred stock is required for approval.

Formerly Mitcham Industries, Inc., The Woodlands, Tex.-based MIND Technology markets geophysical and other equipment for oceanographic, hydrographic, defense, seismic and security industries.

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