Intelligent Protection Management Corp. (NASDAQ: IPM) Appoints New Directors to the Board of Directors

On January 7, 2025, Intelligent Protection Management Corp. (the “Company”) made key changes to its Board of Directors following the completion of its acquisition of Newtek Technology Solutions, Inc. The Company disclosed these developments in a recent SEC filing.

Barry Sloane has been appointed as the Newtek Representative to the Board, as per the terms outlined in the Agreement and Plan of Merger. Effective immediately, the Board has been expanded from five to seven directors to accommodate Mr. Sloane’s appointment. His tenure on the Board will last until the Company’s 2025 Annual Meeting. Mr. Sloane brings with him a wealth of experience, having served as Chairman and Chief Executive Officer of Newtek since 1999.

Additionally, Sidney Rabsatt has been appointed to the Board to ensure a majority of independent directors, as mandated by Nasdaq listing rules. Mr. Rabsatt, with extensive experience in cloud infrastructure, applications, and artificial intelligence, will serve until the 2025 Annual Meeting. He has also been assigned to the Strategic Transactions Committee of the Board.

Mr. Sloane and Mr. Rabsatt’s entry into the boardroom aims to provide valuable perspectives as the Company transitions into a managed technology solutions provider post-acquisition. Mr. Sloane expressed his enthusiasm for the opportunity, highlighting the Company’s potential growth trajectory. Mr. Rabsatt also spoke optimistically about leveraging his technological expertise to bolster the Company’s position in cybersecurity and cloud infrastructure sectors.

In connection with Mr. Rabsatt’s appointment, he has been granted a non-qualified stock option to purchase Company common stock. This award shall vest in four quarterly installments throughout 2025, subject to continued service to the Company. Mr. Rabsatt will also partake in the Company’s compensation policy for non-employee directors.

Following these developments, the Company issued a press release on January 8, 2025, officially announcing the appointments of Mr. Sloane and Mr. Rabsatt to the Board. The press release emphasized the Company’s optimism surrounding the new appointments and the strategic direction it intends to pursue moving forward.

This article is based on the information disclosed in the Form 8-K SEC filing dated January 7, 2025, and the associated press release furnished on January 8, 2025.

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

Paltalk Company Profile

Paltalk, Inc, together with its subsidiaries, develops communications software and multimedia social applications worldwide. It offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and owns and operates Vumber, a telecommunications services provider that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user’s existing cell phone or land line telephone number.