BBIG - Vinco Ventures pitches new strategies to shareholders

2023-04-25 12:25:07 ET

Vinco Ventures, Inc. ( NASDAQ: BBIG ) announced that the board issued a letter to shareholders outlining the company’s strategy in advance of the annual meeting on April 27.

The company said it is asking shareholders to vote on proposals that will pave the way to execute strategies to improve profitability and enhance shareholder value.

"We are on the cusp of an exciting new chapter with our planned acquisition of the National Enquirer, the National Examiner and Globe and digital publishing assets (the “Acquisition”). While we recognize we have more work to do, we are confident that this acquisition will open up multiple ways to create value."

The board noted that it has unanimously approved James Robertson as President and Chief Executive Officer. Robertson joins BBIG from Us Weekly,  where he served as Editor-In-Chief. The plan is for him to lead the company into the next phase of its growth strategy to provide digital content and advertising.

Chris Polimeni was approved as Chief Financial Officer and Chief Operating Officer. He previously served as Executive Vice President – CFO/COO of Accelerate360 Holdings, LLC & Subsidiaries, the parent company of a360 Media, LLC. He has been involved in acquisitions, corporate finance, SEC reporting and corporate management for more than 30 years.

BBIG also set terms for a reverse stock split that it noted will automatically increase the stock price to regain compliance with Nasdaq continued listing requirements.

More on Vinco Ventures:

• Read the breakdowns from Seeking Alpha analysts
• View the growth metrics
• See the financial and valuation comparisons to sector peers
• Dig into the Seeking Alpha Quant Rating
• Read about a Vinco Ventures activist push from retail investors.

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