---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-304176"
form_type: "8-K"
ticker: "BEEP"
cik: "0001847874"
company_name: "Mobile Infrastructure Corp"
filed_at: "2022-12-14T23:59:59+00:00"
generated_at: "2026-06-21T04:56:54.091372+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FWAC (SPAC) to merge with Mobile Infrastructure Corp in business combination

## Summary
- MIC common stock exchanged for Surviving Pubco shares at Exchange Ratio; MIC preferred stock receives preferred merger consideration.
- Termination fee of $4M payable by MIC in specified termination events; closing deadline May 27, 2023.
- Initial PIPE investor commits $12M at $10/share; additional PIPE conditions for sponsor share cancellations.
- Sponsor lock-up 6 months; founder shares subject to earn-out vesting at $16 and $20 per share thresholds.
- MIC's largest stockholder Color Up (44.2% ownership) enters support agreement to vote in favor of merger.

## SEC filing metadata
- accession: 0001193125-22-304176
- form_type: 8-K
- ticker: BEEP
- cik: 0001847874
- company_name: Mobile Infrastructure Corp
- filed_at: 2022-12-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847874/000119312522304176/0001193125-22-304176-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847874/000119312522304176/d432666d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-304176
- JSON: https://secwatch.observer/filing/0001193125-22-304176.json
- Plain text: https://secwatch.observer/filing/0001193125-22-304176.txt

## Key facts
- Material Agreements
  Mobile Infrastructure Corp entered into Agreement and Plan of Merger with Fifth Wall Acquisition Corp. III, Queen Merger Corp. I (effective 2022-12-13).
  - Action: entry
  - Agreement: merger
  - Counterparty: Fifth Wall Acquisition Corp. III, Queen Merger Corp. I
  - Effective: 2022-12-13
  source text: On December 13, 2022, Fifth Wall Acquisition Corp. III, a Cayman Islands exempted company (together with its successors, including after the Domestication (as defined below), “FWAC”), entered into an agreement and plan of merger (as it may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and among FWAC, Queen Merger Corp. I, a Maryland corporation and a wholly-owned subsidiary of FWAC (“Merger Sub”), and Mobile Infrastructure Corporation, a Maryland corporation (“MIC”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847874/000119312522304176/0001193125-22-304176-index.htm

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