What's Going On With Minim Stock?

Minim, Inc. MINM shares are trading higher Wednesday. David E. Lazar disclosed a 51% active stake in Minim after the market close on Tuesday.

What To Know:

According to a Schedule 13D filing, Lazar acquired 2 million Series A Preferred Stock of Minim, Inc. Each share of Series A Preferred Stock is convertible into 1.4 shares of the Company’s common stock (“Common Stock”). In addition, Minim issued Mr. Lazar warrants to purchase up to an additional 2.8 million shares of common stock, with an exercise price equal to $1.00 per share.

“I am pleased to announce my significant investment in Minim given the meaningful opportunity I believe the company represents and am eager to begin working with the board of directors and management to actively explore potential strategic options to drive shareholder value,” said Mr. Lazar in a statement.

Minim shares are moving on heavy trading volume following the disclosure with more than 50.6 million shares already traded in the session. According to data from Benzinga Pro, the stock’s 100-day average volume is 2.266 million shares, and Minim has a float of only 1.776 million shares.

Minim manufactures communications equipment under the Motorola brand. Its hardware products include cable modems, cable modems/routers, mobile broadband modems, wireless routers, MoCA adapters and mesh home networking devices.

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MINM Price Action: According to Benzinga Pro, Minim shares are up 64% at $4.16 at the time of publication.

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