Marin Software to dissolve operations following strategic review

SAN FRANCISCO - Marin Software Incorporated (NASDAQ: MRIN), a digital marketing software provider with annual revenue of $16.71 million, has announced that its Board of Directors has approved a Plan of Dissolution and Liquidation, pending stockholder approval. The decision follows an extensive evaluation of strategic alternatives, leading to the conclusion that winding down the company's operations would best serve the interests of its shareholders. According to InvestingPro data, the company has maintained a strong liquidity position with a current ratio of 3.08, though it has struggled with profitability, reporting a net loss of $12.02 million in the last twelve months.

The Plan of Dissolution, if sanctioned by the stockholders, would entail Marin Software ceasing its operations in an orderly fashion, delisting its shares from Nasdaq, settling or resolving its liabilities and obligations, and potentially selling off its assets. Any net proceeds from these actions would be distributed to the stockholders. InvestingPro analysis reveals several key factors supporting this decision, including significant stock price deterioration, with shares down over 68% in the past year. Get access to 8 more exclusive ProTips and comprehensive financial analysis with an InvestingPro subscription.

Christopher Lien, Marin Software's Founder and CEO, expressed gratitude to customers, partners, employees, and stockholders for their support throughout the company's journey. The company's market capitalization has declined to $3.9 million, despite maintaining a favorable position with more cash than debt on its balance sheet.

The company is preparing to call a special stockholders' meeting in the second quarter of 2025 to seek approval for the dissolution plan. Proxy materials are expected to be filed with the U.S. Securities and Exchange Commission (SEC) in the near future. Following stockholder approval, the dissolution process would commence according to Delaware law.

Marin Software will file a preliminary proxy statement and other relevant documents with the SEC, which stockholders are urged to read once available, as they will contain important information about the company and the dissolution plan. The definitive proxy statement will be provided to stockholders on the record date upon availability.

The company and certain directors and executive officers may be considered participants in the solicitation of proxies from stockholders in connection with the Plan of Dissolution. Details regarding these individuals and their interests in the plan will be included in the definitive proxy statement filed with the SEC.

This announcement includes forward-looking statements, which are subject to risks and uncertainties, including the ability to execute asset sales, the timing and amount of shareholder distributions, and potential unknown liabilities. These statements are based on information available to Marin Software as of now, and the company disclaims any obligation to update them, except as required by law.

The information in this article is based on a press release statement from Marin Software Incorporated.

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