---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-019207"
form_type: "8-K"
ticker: "HWNI"
cik: "0001413891"
company_name: "HIGH WIRE NETWORKS, INC."
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T05:21:06.678742+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# High Wire Networks sells legacy staffing business for ~$11.5M in debt reduction and preferred stock cancellation

## Summary
- Sold ADEX Corp., ADEX Canada, ADEX Puerto Rico, and ADEXCOMM to ADEX Acquisition Corp. for $1 cash plus assumption of ~$10M debt and cancellation of 140 Series D preferred shares.
- Debt elimination reduces monthly payments by ~$325,000.
- Company to focus on cybersecurity and technology enablement, which have strong growth.
- Sale closed simultaneously with signing on March 6, 2023.

## SEC filing metadata
- accession: 0001213900-23-019207
- form_type: 8-K
- ticker: HWNI
- cik: 0001413891
- company_name: HIGH WIRE NETWORKS, INC.
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1413891/000121390023019207/0001213900-23-019207-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1413891/000121390023019207/ea174895-8k_highwire.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-019207
- JSON: https://secwatch.observer/filing/0001213900-23-019207.json
- Plain text: https://secwatch.observer/filing/0001213900-23-019207.txt

## Key facts
- Material Agreements
  HIGH WIRE NETWORKS, INC. entered into Agreement with ADEX Acquisition Corp. valued at approximately $11.5 million (effective 2023-03-06).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: ADEX Acquisition Corp.
  - Value: approximately $11.5 million
  - Effective: 2023-03-06
  source text: entered into a stock purchase agreement (the “Agreement”), by and among ADEX Corporation, ADEX Canada LTD., ADEX Puerto Rico, LLC and ADEXCOMM, and ADEX Acquisition Corp., pursuant to which the Company sold to ADEX Acquisition Corp. its legacy staffing business in a transaction valued at approximately $11.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1413891/000121390023019207/0001213900-23-019207-index.htm

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