secwatch.observer — SEC 8-K summary
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Issuer:     SMG Industries Inc. (—)
CIK:        0001426506
Form:       8-K
Filed at:   2023-07-12T23:59:59+00:00
Accession:  0001104659-23-080345
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 2.01, 3.02, 3.03, 5.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SMG Industries acquires Barnhart Transportation for $26M cash plus equity; appoints new CEO/CFO
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- Acquired Barnhart Transportation group for $26M cash, $3M promissory note, 77M shares of common, and 500 shares Series C Preferred.
- New $31.7M term loan with Great Rock and $25M ABL facility with JPMorgan; converted $23.2M promissory notes into 141.8M shares.
- Appointed Bryan Barnhart as CEO and Timothy Barnhart as CFO; prior CEO Matthew Flemming became Business Development Officer.
- Authorized shares increased from 250M to 500M; Series C Preferred issued with 5% dividend, convertible at $0.25/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1426506/000110465923080345/0001104659-23-080345-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1426506/000110465923080345/tm2320906d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-080345

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