AutoWeb to Hold First Quarter 2022 Conference Call on Monday, May 16, 2022 at 5:00 p.m. ET
09 Maio 2022 - 5:05PM
AutoWeb, Inc. (Nasdaq: AUTO), an automotive matchmaking platform
connecting in-market car shoppers to their preferred vehicle
transactions, will hold a conference call on Monday, May 16, 2022
at 5:00 p.m. Eastern time to discuss its financial results for the
first quarter ended March 31, 2022. The company will report its
financial results in a press release prior to the conference call.
AutoWeb President & CEO Jared Rowe and CFO
Carlton Hamer will host the conference call, followed by a
question-and-answer session.
Date: Monday, May 16, 2022Time: 5:00 p.m. Eastern time (2:00
p.m. Pacific time)Toll-free dial-in number:
1-877-852-2929International dial-in number:
1-404-991-3925Conference ID: 3084846
The conference call will also be broadcast live
here and at www.autoweb.com (click on “Investors” and then click on
“Events & Presentations”). Please visit the website at least 15
minutes prior to the start of the call to register and download any
necessary software. For those who will be joining the call by
phone, please call the conference telephone number 5-10 minutes
prior to the start time, and an operator will register your name
and organization. If you have any difficulty connecting with the
conference call, please contact Gateway Group at
1-949-574-3860.
A replay of the conference call will be
available after 8:00 p.m. Eastern time on the same day through May
23, 2022. The call will also be archived in the Investors section
of the company’s website for one year.
Toll-free replay number: 1-855-859-2056International replay
number: 1-404-537-3406Replay ID: 3084846
Tax Benefit Preservation PlanAt
December 31, 2021, the company had approximately $110.7 million in
available net operating loss carryforwards (NOLs) for U.S. federal
income tax purposes. AutoWeb reminds stockholders about its Tax
Benefit Preservation Plan dated May 26, 2010, as amended (the
“Plan”) between the company and Computershare Trust Company, N.A.,
as rights agent.
The Plan was adopted by the company’s board of
directors to preserve the company’s NOLs and other tax attributes,
and thus reduce the risk of a possible change of ownership under
Section 382 of the Internal Revenue Code. Any such change of
ownership under Section 382 would limit or eliminate the ability of
the company to use its existing NOLs for federal income tax
purposes. In general, an ownership change will occur if the
company’s 5% shareholders, for purposes of Section 382,
collectively increase their ownership in the company by an
aggregate of more than 50 percentage points over a rolling
three-year period. The Plan is designed to reduce the likelihood
that the company experiences such an ownership change by
discouraging any person or group from becoming a new 5% shareholder
under Section 382. Rights issued under the Plan could be triggered
upon the acquisition by any person or group of 4.9% or more of the
company’s outstanding common stock and could result in substantial
dilution of the acquirer’s percentage ownership in the company.
There is no guarantee that the Plan will achieve the objective of
preserving the value of the company’s NOLs.
As of March 31, 2022, there were 14,051,149
shares of the company’s common stock, $0.001 par value,
outstanding. Persons or groups considering the acquisition of
shares of beneficial ownership of the company’s common stock should
first evaluate their percentage ownership based on this revised
outstanding share number to ensure that the acquisition of shares
does not result in beneficial ownership of 4.9% or more of
outstanding shares. For more information about the Plan, please
visit investor.autoweb.com/financial-information/tax.
About AutoWeb, Inc.AutoWeb,
Inc. provides high-quality consumer leads, clicks and associated
marketing services to automotive dealers and manufacturers
throughout the United States. The company also provides consumers
with robust and original online automotive content to help them
make informed car-buying decisions. The company pioneered the
automotive Internet in 1995 and has since helped tens of millions
of automotive consumers research vehicles; connected thousands of
dealers nationwide with motivated car buyers; and has helped every
major automaker market its brand online.
Investors and other interested parties can
receive AutoWeb news alerts and special event invitations by
accessing the online registration form at
http://investor.autoweb.com/alerts.cfm.
Company Contact:
Carlton HamerChief Financial
Officer1-949-225-4528carlton.hamer@autoweb.com
Investor Relations Contact:Cody CreeGateway
Group, Inc.1-949-574-3860AUTO@gatewayir.com
AutoWeb (NASDAQ:AUTO)
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