---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-045519"
form_type: "8-K"
ticker: "MGTI"
cik: "0001001601"
company_name: "MGT CAPITAL INVESTMENTS, INC."
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T09:39:18.931345+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-045519
- form_type: 8-K
- ticker: MGTI
- cik: 0001001601
- company_name: MGT CAPITAL INVESTMENTS, INC.
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001601/000149315223045519/0001493152-23-045519-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001601/000149315223045519/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-045519
- JSON: https://secwatch.observer/filing/0001493152-23-045519.json
- Plain text: https://secwatch.observer/filing/0001493152-23-045519.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001601/000149315223045519/0001493152-23-045519-index.htm

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