Kidpik Terminates Merger Agreement with Nina Footwear, Delisted from Nasdaq

On January 8, 2025, Kidpik Corp. (NASDAQ: PIK) announced the termination of the Agreement and Plan of Merger and Reorganization with Nina Footwear Corp. Kidpik and Nina Footwear were involved in a merger agreement that was terminated by Nina Footwear due to the failure to complete the merger by the agreed deadline of December 31, 2024. This decision followed Kidpik’s failure to meet the condition requiring its common stock to be traded on Nasdaq at closing.

The termination resulted in Kidpik continuing to operate as a standalone publicly-traded company on the OTC Markets. In a parallel move, Kidpik decided not to appeal Nasdaq’s decision to delist the trading of its common stock on Nasdaq’s Capital Market. The delisting led Kidpik’s common stock to be quoted on the OTC Markets’ “OTC Pink Market” tier under the symbol “PIKM.”

The termination of the merger agreement has also impacted Kidpik’s ability to meet requirements for the sale of convertible debentures, affecting plans to sell up to an additional $1,500,000 worth of debentures.

Following the termination, Kidpik may explore strategic alternatives aimed at maximizing shareholder value. These alternatives could include the sale of assets, the sale of the company, another merger, liquidation, or other strategic actions, potentially including bankruptcy. The company intends to disclose any relevant developments only upon entering definitive agreements or as deemed necessary.

Kidpik Corp., established in 2016, is an online clothing subscription box service for kids. The company offers expertly styled outfits tailored to each member’s style preferences, delivering surprise boxes monthly or seasonally. Kidpik’s branded clothing and footwear are available through their e-commerce website.

Regarding forward-looking statements, Kidpik cautions that certain matters in the press release are not historical facts but forward-looking statements. The company advises against placing undue reliance on these statements, emphasizing the unpredictability of future results and urging discretion in interpreting forward-looking statements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kidpik’s 8K filing here.

About Kidpik

Kidpik Corp. operates as a subscription-based e-commerce company that sells kids apparel, footwear, and accessories. It offers apparel, including tops, bottoms, cardigans, jackets, dresses, and swimwear in knit and woven fabrications; shoes, such as sneakers, boots, sandals, and dress shoes; and accessories comprising sunglasses, jewelry, bags, socks, hats, hair goods, and other items.