secwatch.observer — SEC 8-K summary
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Issuer:     Mobile Infrastructure Corp (BEEP)
CIK:        0001847874
Form:       8-K
Filed at:   2022-12-14T23:59:59+00:00
Accession:  0001193125-22-304176
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847874/000119312522304176/0001193125-22-304176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847874/000119312522304176/d432666d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-304176

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