secwatch.observer — SEC 8-K summary
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Issuer:     AGRI-FINTECH HOLDINGS, INC. (—)
CIK:        0001648365
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001104659-22-124518
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tingo completes sale of Tingo Mobile to MICT for 19.9% stock plus convertible preferred
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- Merger closed Dec 1, 2022; Tingo Mobile becomes wholly owned by MICT (Nasdaq: MICT).
- Consideration: 19.9% of MICT common stock plus convertible Series A and B Preferred.
- Tingo Mobile Q3 2022 annualized revenue run rate ~$1.2B; pre-tax net income run rate ~$650M.
- Tingo Mobile had $247M cash and $1.51B total assets at Sept 30, 2022.
- MICT expects substantial Q4 2022 earnings and material quarter-over-quarter growth in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1648365/000110465922124518/0001104659-22-124518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1648365/000110465922124518/tm2231998d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-124518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer