---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-028789"
form_type: "8-K"
ticker: null
cik: "0001431959"
company_name: "META MATERIALS INC."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T21:05:54.541907+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Meta Materials: $15.3M cash, $282M goodwill impairment, restructuring, going concern doubt

## Summary
- Preliminary cash $15.3M, working capital $6.7-$7.4M as of May 31, 2023; going concern doubt reiterated.
- Expected non-cash goodwill impairment ~$282M in Q2 2023 based on current stock price $0.2231.
- Board approved revised operating plan: exploring divestiture/JV/curtailment of Holography and Wireless Sensing technologies.
- Expected restructuring charges $1.9M-$3.2M; monthly cash burn targeted to drop from $5.7M to $2.6-$3.8M.
- B. Riley and Roth terminated as ATM sales agents; Ladenburg sole agent with reduced commission from 3.0% to 2.25%.

## SEC filing metadata
- accession: 0000950170-23-028789
- form_type: 8-K
- cik: 0001431959
- company_name: META MATERIALS INC.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.02, 2.05, 2.06, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1431959/000095017023028789/0000950170-23-028789-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1431959/000095017023028789/mmat-20230620.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-028789
- JSON: https://secwatch.observer/filing/0000950170-23-028789.json
- Plain text: https://secwatch.observer/filing/0000950170-23-028789.txt

## Key facts
- Material Agreements
  META MATERIALS INC. entered into Amendment No. 1 to At Market Issuance Sales Agreement with Ladenburg Thalmann & Co. Inc. valued at Reaffirmed Ladenburg as sole Sales Agent and reduced commission rate from 3.0% to 2.25% on gross pro (effective 2023-06-20).
  - Action: entry
  - Agreement: atm program
  - Counterparty: Ladenburg Thalmann & Co. Inc.
  - Value: Reaffirmed Ladenburg as sole Sales Agent and reduced commission rate from 3.0% to 2.25% on gross pro
  - Effective: 2023-06-20
  source text: Amendment No. 1 (the “Amendment”) to the ATM Program, dated as of June 20, 2023 by and between the Company and Ladenburg Thalmann & Co. Inc. reaffirmed our relationship with Ladenburg as the sole Sales Agent of the ATM Program. The Amendment also adjusted the Original Agreement to reduce the fixed commission rate from 3.0% to 2.25% on the gross proceeds from each sale of Common Stock under the ATM Program. On June 20, 2023, we filed prospectus supplement no. 1 to our prospectus supplement dated February 10, 2023 and our prospectus dated November 18, 2022 relating to the ATM Program to describe the changes summarized above. The Amendment is filed as Exhibit 1.1 and incorporated by reference herein. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to such exhibit.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017023028789/0000950170-23-028789-index.htm
- Restructurings & Charges
  META MATERIALS INC. announced a impairment with charges of approximately $282 million affecting goodwill.
  - Type: impairment
  - Charge: approximately $282 million
  - Affected area: goodwill
  source text: we expect to incur non-cash impairment charges related to our current carrying value of goodwill of approximately $282 million during the second quarter ending June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017023028789/0000950170-23-028789-index.htm
- Restructurings & Charges
  META MATERIALS INC. announced a restructuring with charges of between $1.9 million and $3.2 million affecting corporate structure; realignment of Holography Technology and Wireless Sensing and Radio Wave Imaging Technology.
  - Type: restructuring
  - Charge: between $1.9 million and $3.2 million
  - Affected area: corporate structure; realignment of Holography Technology and Wireless Sensing and Radio Wave Imaging Technology
  source text: and consolidation charges, not factoring in potential losses arising from the impairment of goodwill and long-term assets as described below, are expected to be between $1.9 million and $3.2 million and are expected to be spread across the fiscal year concluding on December 31, 2023. We expect the realignment and consolidation plan will reduce our operating
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017023028789/0000950170-23-028789-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.