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Issuance is part of normal course of incentive program for key team members and funded from existing employee option pool with no material dilution impact for shareholders
Boston, MA, Jan. 17, 2024 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (the “Company”) (TSXV: MNLX) today announces that as part of its standard disclosures, the Company has granted 350,000 options to certain directors and officers of the Company at a strike price of CDN $0.48, which represents a premium of approximately ~10 percent to the prior day’s closing stock price.
These option grants have no material dilution for shareholders, representing less than 25 basis points of the outstanding equity of the Company. On a fully diluted basis, the dilution impact is further mitigated by the cancellation of options from recent or planned exits of team members.
The options are subject to a 1-year cliff vesting schedule and are exercisable for subordinate voting shares of the Company for a period of 10 years following the date of grant.
About MiniLuxe
MiniLuxe, a Delaware corporation based in Boston, Massachusetts, is a lifestyle brand and talent empowerment platform servicing the beauty and self-care industry. The Company focuses on delivering high quality nail care and esthetic services and offers a suite of trusted proprietary products that are used in the Company’s owned and operated studios. For over a decade, MiniLuxe has been elevating industry standards through healthier, ultra-hygienic services, a modern design esthetic, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe aims to radically transform a highly fragmented and under regulated self-care and nail care industry through its brand, standards, and technology platform that collectively enable better talent and client experiences. For its clients, MiniLuxe offers best-in-class self-care services and better-for-you products, and for nail care and beauty professionals, MiniLuxe seeks to become the employer of choice. In addition to creating long-term durable economic returns for our stakeholders, the brand seeks to positively impact and empower one of the most diverse and largest hourly worker segments through professional development and certification, economic mobility, and company ownership opportunities (e.g., equity participation and future franchise opportunities). Since its inception, MiniLuxe has performed over 3.5 million services.
For further information
Christine Mastrangelo
Investor Relations, MiniLuxe Holding Corp.
cmastrangelo@miniluxe.com
miniluxe.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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