secwatch.observer — SEC 8-K summary
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Issuer:     MachTen, Inc. (—)
CIK:        0001957783
Form:       8-K
Filed at:   2023-09-05T23:59:59+00:00
Accession:  0001193805-23-001251
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MachTen spun off from LICT; 81% distributed to LICT shareholders; OTC ticker MACT
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- LICT distributed 2,565,485 shares (81%) of MachTen to LICT holders of record July 31, 2023.
- Each LICT share received 150 MachTen shares; LICT retains 605,980 shares (19%), plans disposal within 5 years.
- MachTen expects to trade on OTC Pink under MACT; holds UPTC, MCBC, Alpha (Michigan telecom/broadband).
- Entered Separation, Transitional Services (up to 3 months), Voting, and Tax Indemnity agreements with LICT.
- Spin-off intended to be tax-free to LICT stockholders for U.S. federal income tax purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1957783/000119380523001251/0001193805-23-001251-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1957783/000119380523001251/e618909_8k-machten.htm
  HTML page:      https://secwatch.observer/filing/0001193805-23-001251

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