---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-025813"
form_type: "8-K"
ticker: "MGTI"
cik: "0001001601"
company_name: "MGT CAPITAL INVESTMENTS, INC."
filed_at: "2022-09-14T23:59:59+00:00"
generated_at: "2026-06-23T09:36:24.566733+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MGT Capital enters non-binding LOI to merge with Bit5ive; closes $1.5M convertible note

## Summary
- Non-binding LOI with Bit5ive LLC: Bit5ive shareholders would own 70%-80% of combined company on fully diluted basis.
- Robert Collazo, Bit5ive founder, to become CEO of combined entity upon closing.
- Closed $1.5M secured convertible note with Project Nickel LLC; net proceeds $1.335M (after $165K OID).
- Note matures Dec 31, 2023, bears 6% interest; convertible into 30% of MGT's outstanding post-conversion shares.
- Merger subject to due diligence, audited Bit5ive financials, member approval; no assurance definitive agreement will be reached.

## SEC filing metadata
- accession: 0001493152-22-025813
- form_type: 8-K
- ticker: MGTI
- cik: 0001001601
- company_name: MGT CAPITAL INVESTMENTS, INC.
- filed_at: 2022-09-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001601/000149315222025813/0001493152-22-025813-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001601/000149315222025813/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-025813
- JSON: https://secwatch.observer/filing/0001493152-22-025813.json
- Plain text: https://secwatch.observer/filing/0001493152-22-025813.txt

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