secwatch.observer — SEC 8-K summary
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Issuer:     Tingo Group, Inc. (—)
CIK:        0000854800
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0001213900-22-077988
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.01, 3.02, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MICT completes Tingo acquisition; revenue run rate ~$1.2B, pre-tax income ~$650M
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- Completed acquisition of 100% of Tingo Mobile Ltd for ~19.9% common stock plus convertible preferred shares.
- Annualized revenue run rate ~$1.2B and net income before tax ~$650M per Tingo's Q3 2022 10-Q.
- Tingo Mobile had $247M cash and $1.51B total assets as of Sep 30, 2022.
- Appointed Kenneth Denos (EVP, General Counsel) and John Brown to board; Darren Mercer remains CEO.
- Expects substantial Q4 2022 earnings and quarter-over-quarter growth in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/854800/000121390022077988/0001213900-22-077988-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/854800/000121390022077988/ea169705-8k_mictinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-077988

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer