---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-012144"
form_type: "8-K"
ticker: null
cik: "0000854800"
company_name: "Tingo Group, Inc."
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T12:36:50.663218+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MICT acquires Tingo Foods for $204M note; plans $1.6B food processing facility in Nigeria

## Summary
- Acquired 100% of Tingo Foods PLC from Dozy Mmobuosi via $204M secured promissory note at 5% over 2 years.
- Tingo Foods generated >$400M unaudited revenue Sep-Dec 2022; $204M cost value of existing stock.
- Plans $1.6B food processing facility in Delta State, Nigeria, completion H1 2024, creating 12,000 jobs.
- MICT CEO expects Tingo Foods to add 'several hundred million dollars' of profitable revenue to 2023.
- No new MICT common stock issued; consideration entirely via secured promissory note.

## SEC filing metadata
- accession: 0001213900-23-012144
- form_type: 8-K
- cik: 0000854800
- company_name: Tingo Group, Inc.
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/854800/000121390023012144/0001213900-23-012144-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/854800/000121390023012144/ea173780-8k_mictinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-012144
- JSON: https://secwatch.observer/filing/0001213900-23-012144.json
- Plain text: https://secwatch.observer/filing/0001213900-23-012144.txt

## Key facts
- M&A Transactions
  Tingo Group, Inc. completed an acquisition involving Dozy Mmobuosi for US$204,000,000.
  - Action: acquisition
  - Counterparty: Dozy Mmobuosi
  - Consideration: US$204,000,000
  source text: a purchase price equal to the cost value of Tingo Foods’ stock, which will be satisfied by the issuance of a secured promissory note (“Promissory Note”) in the amount of US$204,000,000. The Promissory Note is for a terms of two years with an interest rate of 5%. MICT Fintech agreed to certain covenants with respect to its ability to incur additional debt or
  evidence_url: https://www.sec.gov/Archives/edgar/data/854800/000121390023012144/0001213900-23-012144-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.