Marin Software Inc ( MRIN ) shares are trading lower by 50.8% to 63 cents during Thursday’s session after the company announced plans for dissolution, which its board of directors has approved.

What Else: Marin says this decision follows a comprehensive review of strategic alternatives by the Board of Directors, who concluded that an orderly wind-down would best serve stockholders.

If stockholder approval occurs, the company will shut down operations, delist from Nasdaq, settle outstanding obligations, seek opportunities to sell off assets and distribute any remaining proceeds to shareholders.

CEO and founder Christopher Lien expressed gratitude to stakeholders for their longstanding support. Marin plans to hold a special shareholder meeting in the second quarter of 2025 and will soon file related materials with the SEC.

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According to data from Benzinga Pro, MRIN has a 52-week high of $5.45 and a 52-week low of $0.55.