Micronet Enertec Technologies

MICT, Inc. operates through its subsidiaries, focused on the growth and development of its financial technology offerings. The firm uses its proprietary trading technology platforms to serve a range of growth sectors in the fintech space, including online brokerage for equities trading, online investment and wealth management services, sales of insurance products, and trading in certain commodities. It is also involved in the growing telematics and commercial mobile resource management market, with a focus on designing, developing, manufacturing, and selling mobile computing solutions that provide fleet operators and field workforces with computing solutions. The company was founded on January 31, 2002 and is headquartered in Montvale, NJ.

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Tingo Group, Inc. operates through its subsidiaries, focused on the growth and development of its financial technology offerings. The firm uses its proprietary trading technology platforms to serve a range of growth sectors in the fintech space, including online brokerage for equities trading, online investment and wealth management services, sales of insurance products, and trading in certain commodities. It is also involved in the growing telematics and commercial mobile resource management market, with a focus on designing, developing, manufacturing, and selling mobile computing solutions that provide fleet operators and field workforces with computing solutions. The company was founded on January 31, 2002 and is headquartered in Montvale, NJ.

MONTVALE, N.J., March 08, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT), (the "Company"), announced today that its majority-owned subsidiary, Micronet Ltd., (“Micronet') has received a purchase order for 2,000 units of its SmartCam connected product from a one of North America's largest telematics service providers. The total aggregate order is worth approximately US$0.9 Million.

MICT's Subsidiary Micronet Receives Commercial Order for its SmartCam Connected Product

MONTVALE, N.J., March 04, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT) (the “Company”), today announced that it closed its previously announced registered direct offering of (i) 19,285,715 shares of common stock and (ii) 19,285,715 warrants to purchase 19,285,715 shares of common stock at a combined purchase price of $2.80. The gross proceeds to MICT from this offering are approximately $54,000,000, before deducting placement agent fees and other estimated offering expenses. The warrants are exercisable immediately, have an exercise price of $2.80 per share and expire five years from the date of issuance.

MICT Announces Closing of $54 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

MICT Inc (NASDAQ: MICT) plans to raise $54 million from the sale of 19.2 million shares at $2.8 per share in a secondary institutional offering. The arrangement includes 19.2 million warrants to sell 19.2 million shares at the offer price.

MICT Shares Are Trading Lower On $54M Proposed Institutional Share Sale

Get ready for 30% stock dilution, shareholders.

Why MICT Stock Tanked Today

MONTVALE, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT) (the "Company"), today announced it has entered into securities purchase agreements with institutional investors for the purchase and sale of (i) 19,285,715 shares of common stock and (ii) 19,285,715 warrants to purchase 19,285,715 shares of common stock at a combined purchase price of $2.80. The gross proceeds to MICT from this offering are expected to be approximately $54 million before deducting placement agent fees and other estimated offering expenses. The warrants will be exercisable immediately, have an exercise price of $2.80 per share and will expire five years from the date of issuance. The offering is expected to close on or about March 4, 2021, subject to customary closing conditions.

MICT Announces $54 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

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MICT Inc (NASDAQ: MICT) received the Hong Kong SFC's (Securities and Futures Commission) approval for the completion of the acquisition of Huapei Global Securities, Ltd, which offered the company a licensed platform to facilitate the trading of securities in Hong Kong, U.S., and China exchanges for its Chinese and Hong Kong clientele. The company acquired a 9% stake in Huapei on October 1, 2020, with the option to purchase the remaining stake pending approval.

MICT Obtains Security Trading License In China, Hong Kong Via Huapei Global Securities Acquisition

Hong Kong Securities and Futures Commission Approves MICT's 100% Acquisition of License Holder, Huapei Global Securities Ltd., a Hong Kong-Based Securities and Investments Firm

MICT Acquires Key License for Soon-to-Launch Stock Trading and Wealth Management Platform and Mobile App in China and Hong Kong

MONTVALE, N.J., Feb. 16, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT) (the "Company"), today announced that it closed its previously announced registered direct offering of (i) 22,471,904 shares of common stock, (ii) 22,471,904 Series A Warrants to purchase 22,471,904 shares of common stock and (iii) 11,235,952 Series B Warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $2.67. The gross proceeds to MICT from this offering are approximately $60,000,000, before deducting placement agent fees and other estimated offering expenses. The Series A Warrants are exercisable six months after the date of issuance, have an exercise price of $2.80 per share and expire five and one-half years from the date of issuance. The Series B Warrants are exercisable six months after the date of issuance, have an exercise price of $2.80 per share and expire three and one-half years from the date of issuance.

MICT Announces Closing of $60 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

MONTVALE, N.J., Feb. 11, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT) (the "Company"), today announced it has entered into securities purchase agreements with institutional investors for the purchase and sale of (i) 22,471,904 shares of common stock, (ii) 22,471,904 Series A Warrants to purchase 22,471,904 shares of common stock and (iii) 11,235,952 Series B Warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $2.67. The gross proceeds to MICT from this offering are expected to be approximately $60,000,000 before deducting placement agent fees and other estimated offering expenses. The Series A Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire five and one-half years from the date of issuance. The Series B Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire three and one-half years from the date of issuance. The offering is expected to close on or about February 16, 2021, subject to customary closing conditions.

MICT Announces $60 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

MICT Partners with Leading Chinese Oil & Gas Exchange to Launch Pioneering Financial Services Initially for Oil and Gas Futures and Commodity Exchange Trading

MICT Signs New Financial Services Partnership for Commodity Trading and Futures

Following December's revenue ramp and significant growth in January, the new acquisition paves the way for considerable broadening of product range, accelerated distribution growth and margin and revenue expansion

MICT Strategic Acquisition Secures Valuable Nationwide License to Enable Significant Expansion of Insurance Business in China

World leading telematics provider places significant follow-on order for 5,000 units of Micronet's SmartCam product World leading telematics provider places significant follow-on order for 5,000 units of Micronet's SmartCam product

MICT's Subsidiary Micronet Secures a Significant Follow-On Order with One of the World's Largest Telematics Service Providers

MONTVALE, N.J., Jan. 29, 2021 (GLOBE NEWSWIRE) -- Today MICT, Inc. (Nasdaq: MICT) (“MICT” or the “Company”) filed an amendment to the resale registration statement filing made on Friday, December 18, 2020. The Company wishes to clarify the purpose of the filing of the resale registration statement and this amendment. The filings were not for a new issuance of shares but were made to register a portion of the Company's currently outstanding restricted shares from certain of its holders.

Today's MICT filing of a resale registration statement amendment relates to the registration of a portion of the restricted shares in issue and does not reflect a new issuance of stock

Insurance product business off to a strong start as the company anticipates the launch of its stock trading platform Insurance product business off to a strong start as the company anticipates the launch of its stock trading platform

MICT Moves Core Operations to Hong Kong to Better Reflect Customer and Revenue Base

Recently filed resale registration statement does not reflect new issuance of stock but resale of a portion of outstanding restricted shares Recently filed resale registration statement does not reflect new issuance of stock but resale of a portion of outstanding restricted shares

MICT Launches Insurance Platform in China Ahead of Anticipated Scheduled Timeline

MONTVALE, N.J., Nov. 23, 2020 /PRNewswire/—MICT, Inc. (Nasdaq: MICT) (the Company), today announced that its wholly-owned subsidiary GFH Intermediate Holdings Ltd. (GFHI), through an indirect wholly-owned operating company, signed a number of significant new insurance agency contracts...

MICT's Insurance Division Signs Contracts Expected to Generate Significant Recurring Monthly Revenues

MICT's (MICT) CEO Darren Mercer on Q3 2020 Results - Earnings Call Transcript

MONTVALE, N.J., Nov. 18, 2020 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT), announced today that it will release its financial results for the third quarter of 2020. Today, November 18, 2020 after the closing of the market. Management will host a conference call to discuss the results on...

MICT to Host Conference Call to Discuss Financial Results For the Third Quarter of 2020

MONTVALE, N.J., Oct. 26, 2020 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT), (the "Company"), is pleased to announce the appointment of Richard Abrahams as Chief Executive Officer of the stock trading and wealth management business. With more than 35 years' experience in the financial...

MICT Appoints Richard Abrahams as Managing Director and Global Head of Brokerage

NEW YORK, Oct. 20, 2020 /PRNewswire/ -- Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of MICT, Inc. (NASDAQ: MICT). If you are a...

SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating MICT, Inc. for Potential Breaches of Fiduciary Duty By Its Board of Directors

MONTVALE, N.J., Oct. 2, 2020 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT), (the "Company"), announced today that through its wholly-owned subsidiary GFH Intermediate Holdings Ltd., it has entered a strategic agreement to acquire, for a total purchase price of U.S.$3.0 million, 9% of a Hong...

MICT enters into agreement to acquire Hong Kong securities and investments firm serving China, Hong Kong and United States

MONTVALE, N.J., Sept. 29, 2020 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT), (the "Company"), announced today that its majority-owned subsidiary Micronet Ltd. ("Micronet") has received initial orders from a leading European truck manufacturer for units of its new SmartHub and SmartTab 8...

MICT Subsidiary Micronet Receives Initial Orders from One of the Largest Automotive OEM Truck Manufacturers in Europe

MONTVALE, N.J., Sept. 4, 2020 /PRNewswire/ -- MICT, Inc.

MICT Obtains Stockholder Approval of Certain Stock Issuances and the Increase of its Authorized Share Capital as Pertains to its Recent Acquisition of Global Fintech Holdings

MICT, Inc. (NASDAQ: MICT) shares soared on Tuesday after the company announced that it entered a pilot trial with a global “telematics” provider which will lead to the first substantial order for the firm’s SmartCam in the North American market.

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