secwatch.observer — SEC 8-K summary
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Issuer:     Mobile Infrastructure Corp (BEEP)
CIK:        0001847874
Form:       8-K
Filed at:   2023-06-16T23:59:59+00:00
Accession:  0001193125-23-169114
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 1.02, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fifth Wall Acquisition Corp. III amends sponsor agreement and secures $46M PIPE for merger with Mobile Infrastructure
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- Sponsor agrees to cancel 4,775,000 founder shares for no consideration; 1,000,000 vest at $13/share and 1,000,000 at $16/share.
- New PIPE investors commit $46 million through Series 2 Preferred Stock at $1,000 per share, convertible at $3.67 per share.
- Terminated the initial $10 million PIPE subscription agreement with Harvest Small Cap Partners by mutual consent.
- Series 2 Preferred Stock ranks senior to common stock and pays cumulative 10% dividends in kind.
- Shares issued in new PIPE are subject to a one-year lock-up and not registered under the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847874/000119312523169114/0001193125-23-169114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847874/000119312523169114/d467104d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-169114

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