FDCTech terminates Genesis Financial acquisition; Chairman removed

FDCTECH, INC.

Terminated Stock Purchase Agreement (June 2, 2021) to acquire 100% of Genesis Financial.
Genesis could not comply with material provisions, including releasing liens and settling defaults.
Warwick Kerridge removed as Chairman and director; Mitchell Eaglstein appointed acting Chairman.
No shares were issued under the terminated agreement.
Company reaffirms its fintech-driven acquisition strategy.

item 1.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed (interim)

Mitchell M. Eaglstein

acting Chairman of the Board

FDCT · FDCTECH, INC.

Filed: August 27, 2021, 7:59 PM ET

Mitchell M. Eaglstein shall be the acting Chairman of the Company.

Departed (interim)

Warwick Kerridge

Chairman of the Board of Directors

FDCT · FDCTECH, INC.

Effective: 2021-08-24
Successor: Mitchell M. Eaglstein
Filed: August 27, 2021, 7:59 PM ET

Effective August 24, 2021, upon the consent of the majority of the stockholders of the Corporation representing at least 68.73% of the issued and outstanding shares of the Company and per Section 222 of the General Corporation Law of the State of Delaware, voted in favor of terminating Warwick Kerridge from the Board of Directors.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Mitchell M. Eaglstein was appointed as acting Chairman of the Board at FDCTECH, INC..

Action: appointed
Role: acting Chairman of the Board

Exact text from the filing

Mitchell M. Eaglstein shall be the acting Chairman of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Warwick Kerridge was terminated as Chairman of the Board of Directors at FDCTECH, INC..

Action: terminated
Role: Chairman of the Board of Directors

Exact text from the filing

Effective August 24, 2021, upon the consent of the majority of the stockholders of the Corporation representing at least 68.73% of the issued and outstanding shares of the Company and per Section 222 of the General Corporation Law of the State of Delaware, voted in favor of terminating Warwick Kerridge from the Board of Directors.

View on SEC.gov

FDCTECH, INC. filing history →

Source: SEC EDGAR

accession 0001493152-21-021415

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