David E. Lazar, a private investor with dual citizenship in Portugal and Israel, has filed a Schedule 13D with the U.S. Securities and Exchange Commission (SEC) on January 30, 2024, indicating a significant acquisition of shares in Minim, Inc., a technology company listed on the Nasdaq. Lazar has reported beneficial ownership of approximately 51.0% of Minim's common stock, which includes 1,472,867 shares with shared voting power under a Voting Agreement. The filing details a Securities Purchase Agreement (SPA) dated January 23, 2024, where Lazar purchased 5,600,000 shares with personal funds amounting to approximately $2.8 million. Additionally, Lazar was granted 25,000 shares under the company's Non-Employee Directors Compensation Plan. The SPA also involves the issuance of warrants and convertible preferred stock, subject to stockholder approval, which could...Show More

David E. Lazar, a private investor with dual citizenship in Portugal and Israel, has filed a Schedule 13D with the U.S. Securities and Exchange Commission (SEC) on January 30, 2024, indicating a significant acquisition of shares in Minim, Inc., a technology company listed on the Nasdaq. Lazar has reported beneficial ownership of approximately 51.0% of Minim's common stock, which includes 1,472,867 shares with shared voting power under a Voting Agreement. The filing details a Securities Purchase Agreement (SPA) dated January 23, 2024, where Lazar purchased 5,600,000 shares with personal funds amounting to approximately $2.8 million. Additionally, Lazar was granted 25,000 shares under the company's Non-Employee Directors Compensation Plan. The SPA also involves the issuance of warrants and convertible preferred stock, subject to stockholder approval, which could potentially increase Lazar's ownership to approximately 66.3% of the company. Lazar's acquisition is based on his belief that the shares were undervalued and represented an attractive investment opportunity. The filing also outlines Lazar's potential future actions, including engaging with management and the board, suggesting operational improvements, and possibly altering his investment position depending on market conditions. The Voting Agreement, entered into on December 28, 2023, includes Jeremy P. Hitchcock, Elizabeth Cash Hitchcock, and several associated entities, granting Lazar voting power over their shares in matters related to the SPA, including corporate actions like reverse stock splits and board elections.