secwatch.observer — SEC 8-K summary
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Issuer:     IDW MEDIA HOLDINGS, INC. (—)
CIK:        0001463833
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001213900-23-033240
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.05, 3.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IDW Media cuts 39% staff, delists from NYSE American, CEO & CFO replaced; expects $4.4M annual savings
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- Reduction in force of 28 employees (39% of workforce); expects $4.4M annual savings and $0.9M severance costs in Q2 2023.
- Voluntarily delisting from NYSE American; effective ~May 18, 2023; intends to quote on OTCQB.
- CEO Allan Grafman removed and CFO Brooke Feinstein removed; Davidi Jonas appointed CEO, Amber Huerta promoted to COO.
- Expects cash and equivalents of ~$5.7M as of April 28, 2023, before severance payments.
- Plans to deregister Class B common stock under Section 12(g) and suspend SEC reporting obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/0001213900-23-033240-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/ea177582-8k_idwmedia.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-033240

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