META MATERIALS INC.: M&A transaction — Meta Materials completes spin-off of Next Bridge Hydrocarbons, distributing 165.5M shares

META MATERIALS INC.

On Dec. 14, 2022, distributed 165,472,241 shares of Next Bridge Hydrocarbons common stock to holders of Series A Preferred Stock.
Each outstanding Series A Preferred share received one Next Bridge common share as of the Dec. 12, 2022 record date.
Following the distribution, Series A Preferred shares were withdrawn and their certificate of designation eliminated.
Next Bridge Hydrocarbons is no longer a consolidated subsidiary of Meta Materials.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

META MATERIALS INC.: Revoked the Certificate of Designation for Series A Preferred Stock, removing all related provisions from the Articles of Incorporation (effective 2022-12-14).

Change: charter amendment
Effective: 2022-12-14

Exact text from the filing

All matters set forth in the previously-filed Certificate of Designation with respect to the Series A Preferred Stock were eliminated from our Articles of Incorporation.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

META MATERIALS INC. completed a disposition involving holders of the Company's Series A Non-Voting Preferred Stock (closed 2022-12-14).

Action: disposition
Counterparty: holders of the Company's Series A Non-Voting Preferred Stock
Closing: 2022-12-14

Exact text from the filing

On December 14, 2022, Meta Materials Inc. (the “Company”) completed the spin-off of Next Bridge Hydrocarbons, Inc. (“Next Bridge”) by distributing (the “Distribution”) the Company’s equity interests in Next Bridge to holders of the Company’s Series A Non-Voting Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”).

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001193125-22-305648

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.