Identiv (INVE) investor relations material

Executive summary

• Proposes the sale of the specialty IoT business, including assets and a subsidiary, to Trackonomy Systems, Inc. for $50 million in Series C Preferred Stock and assumption of certain liabilities, with $25 million in cash transferred to the buyer.

• The board unanimously recommends the asset sale, citing a thorough strategic review and a fairness opinion from Raymond James & Associates.

• Post-sale, the company will remain public, rebrand, and focus on acquiring SaaS businesses in regulated industries, leveraging integration with the buyer’s physical AI platform.

• The transaction is subject to shareholder approval, with a voting agreement in place covering 12% of common stock and all Series B Preferred Stock.

• If the sale is not completed, alternatives include seeking another buyer, liquidation, or other strategic options.

Voting matters and shareholder proposals

• Shareholders will vote on: (1) the asset sale, (2) compensation related to the sale for named executive officers (advisory), (3) election of five directors, (4) issuance of >19.99% of common stock upon Series B Preferred conversion (Nasdaq compliance), (5) say-on-pay for executive compensation (advisory), (6) ratification of BPM LLP as auditor, and (7) adjournment if more time is needed for votes.

• Approval of the asset sale requires a majority of outstanding shares of common and Series B Preferred Stock, voting as a single class.

• The asset sale compensation and say-on-pay proposals are advisory and not binding.

• The adjournment proposal allows for additional proxy solicitation if needed.

Board of directors and corporate governance

• Five director nominees are proposed for one-year terms; all current directors except one are independent under Nasdaq and SEC rules.

• The board separates the roles of CEO and Chair, with an independent Chair.

• Committees include Audit, Compensation, and Nominating, all composed of independent directors.

• The board oversees risk, ESG, and cybersecurity, with regular committee reports.