MGT Capital exchanges $1.54M note balance for warrant to buy 53.5M shares at $0.05

MGT CAPITAL INVESTMENTS, INC.

Outstanding note balance of $1,540,951.65 exchanged for 53,500,000-share warrant at $0.05 per share, exercisable through March 5, 2026.
Prior $13.21M convertible note canceled; no additional cash consideration paid.
Full exercise would add 53.5M shares to 583,470,903 outstanding as of Oct 1, 2021, diluting existing holders by ~9.2%.
Warrant includes cashless exercise provision; issued under Section 3(a)(9) exemption from registration.

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