MGT Capital exchanges $1.5M convertible note; extends maturity to Dec 2024, raises conversion cap to 40%

MGT CAPITAL INVESTMENTS, INC.

Exchanged $1.5M promissory note with Project Nickel LLC for new note maturing Dec 31, 2024.
New note conversion feature based on 40% of fully diluted common stock, up from 30%.
Issued 40M shares via cashless warrant exercise on Dec 18, 2023; total shares outstanding now 845,170,903.
Transactions exempt under Section 3(a)(9) of Securities Act; no cash consideration given.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MGT CAPITAL INVESTMENTS, INC. entered into Agreement with Project Nickel LLC (effective 2023-12-19).

Action: entry
Agreement: notes offering
Counterparty: Project Nickel LLC
Effective: 2023-12-19

Exact text from the filing

On December 19, 2023, MGT Capital Investments, Inc. (the “Company”) entered into an agreement (the “Agreement”) with Project Nickel LLC, the holder of that certain Original Issue Discount Secured Convertible Promissory Note dated September 12, 2022 in the principal amount of $1,500,000 (the “Note”), pursuant to which the holder exchanged the Note for a new Note

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MGT CAPITAL INVESTMENTS, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-045519

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