8-K
filed December 20, 2022, 6:59 PM ET
CIK 0001936756
other material
confidence high
sentiment neutral
materiality 0.70
Next Bridge Hydrocarbons, Inc.: M&A transaction — Next Bridge Hydrocarbons completes spin-off from Meta; names new CEO and board
Next Bridge Hydrocarbons, Inc.
- Spin-off completed Dec 14, 2022: Meta distributed Next Bridge shares to MMTLP preferred holders of record Dec 12.
- Next Bridge becomes independent public reporting co.; Meta retains no ownership.
- Clifton DuBose Jr. named CEO and Chairman; Luke T. Hawkins CFO; Joseph DeWoody President; Delvina Oelkers COO.
- Board expanded to five: DuBose, DeWoody, Pitts, Whitley, Cook; Rice and Palikaras resigned as directors.
- Committees formed: Audit (Whitley chair), Compensation (Pitts chair), Governance (Cook chair), ESG (DeWoody chair).
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
George Palikaras resigned as director at Next Bridge Hydrocarbons, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
Ken Rice and George Palikaras, who had been serving as members of the Board, resigned to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Delvina Oelkers was appointed as Chief Operating Officer at Next Bridge Hydrocarbons, Inc..
- Action
- appointed
- Role
- Chief Operating Officer
Exact text from the filing
Delvina Oelkers was appointed to serve as Chief Operating Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kristin Whitley was elected as director at Next Bridge Hydrocarbons, Inc..
- Action
- elected
- Role
- director
Exact text from the filing
Effective immediately following the Spin-Off, each of Clifton DuBose, Jr., Joseph DeWoody, Mia Pitts and Kristin Whitley were elected as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joseph DeWoody was elected as director at Next Bridge Hydrocarbons, Inc..
- Action
- elected
- Role
- director
Exact text from the filing
Effective immediately following the Spin-Off, each of Clifton DuBose, Jr., Joseph DeWoody, Mia Pitts and Kristin Whitley were elected as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Luke T. Hawkins was appointed as Chief Financial Officer at Next Bridge Hydrocarbons, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Luke T. Hawkins was appointed to serve as Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Clifton DuBose, Jr. was appointed as Chief Executive Officer and Chairman of the Board at Next Bridge Hydrocarbons, Inc..
- Action
- appointed
- Role
- Chief Executive Officer and Chairman of the Board
Exact text from the filing
Clifton DuBose, Jr. was appointed to serve as Chief Executive Officer and Chairman of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mia Pitts was elected as director at Next Bridge Hydrocarbons, Inc..
- Action
- elected
- Role
- director
Exact text from the filing
Effective immediately following the Spin-Off, each of Clifton DuBose, Jr., Joseph DeWoody, Mia Pitts and Kristin Whitley were elected as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Clifton DuBose, Jr. was elected as director at Next Bridge Hydrocarbons, Inc..
- Action
- elected
- Role
- director
Exact text from the filing
Effective immediately following the Spin-Off, each of Clifton DuBose, Jr., Joseph DeWoody, Mia Pitts and Kristin Whitley were elected as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ken Rice resigned as director at Next Bridge Hydrocarbons, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
Ken Rice and George Palikaras, who had been serving as members of the Board, resigned to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joseph DeWoody was appointed as President at Next Bridge Hydrocarbons, Inc..
- Action
- appointed
- Role
- President
Exact text from the filing
Joseph DeWoody was appointed to serve as President
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Next Bridge Hydrocarbons, Inc. underwent a change of control involving Meta Materials, Inc. for Distribution of 100% of the outstanding common stock of Next Bridge to holders of Meta's Series A Preferred Stock (closed 2022-12-14).
- Action
- change of control
- Counterparty
- Meta Materials, Inc.
- Consideration
- Distribution of 100% of the outstanding common stock of Next Bridge to holders of Meta's Series A Preferred Stock
- Closing
- 2022-12-14
Exact text from the filing
Next Bridge Hydrocarbons, Inc. (the “ Company ”) was a 100% owned subsidiary of Meta Materials, Inc. (“ Meta ”) prior to the distribution of 100% of the outstanding common stock, par value $.0001 per share, of the Company (the “ Spin-Off ”) completed by Meta on December 14, 2022 (the “ Distribution Date ”).
View on SEC.gov
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