Midwest Energy Emissions Corp. Files 8-K

TL;DR

MEEC filed an 8-K on Feb 27, 2024, for a material agreement and financial updates. Details TBD.

AI Summary

Midwest Energy Emissions Corp. announced on February 27, 2024, that it entered into a material definitive agreement. The company also reported its results of operations and financial condition, along with other events. Specific details regarding the agreement and financial results were not provided in this initial filing.

Why It Matters

This filing indicates significant corporate activity for Midwest Energy Emissions Corp., potentially impacting its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing itself is routine, but the lack of specific details about the material agreement and financial results introduces uncertainty.

Key Players & Entities

• Midwest Energy Emissions Corp. (company) — Registrant
• February 27, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $13,154,930.61 — with a principal amount outstanding of $13,154,930.61 which was issued on February 25, 2019 (
• $17,654,930.60 — rofit participation preference equal to $17,654,930.60 (the "Profit Share"). Prior to maturity
• $271,686.10 — ng to AC Midwest a principal balance of $271,686.10 due under a secured noted of the Compan
• $9,646,686 — 016 in the original principal amount of $9,646,686, which had a maturity date of August 25
• $9,040,000 — , 2024, the Company (i) paid AC Midwest $9,040,000 as a reduction in the outstanding princ
• $4,114,930.60 — acement note in the principal amount of $4,114,930.60 (the "New Note"), and (iii) paid AC Mid
• $275,625.55 — "New Note"), and (iii) paid AC Midwest $275,625.55 representing the remaining principal ba
• $3,939.45 — ed Note of $271,686.10 plus interest of $3,939.45. Within 30 days, the Company shall eith
• $960,000 — st for a purchase price of no less than $960,000, which amount shall be applied as a cre
• $7,900,000 — rofit participation preference equal to $7,900,000 (the "Restructured Profit Share"). The

Filing Documents

• meec_8k.htm (8-K) — 30KB
• meec_ex101.htm (EX-10.1) — 151KB
• meec_ex102.htm (EX-10.2) — 13KB
• meec_ex103.htm (EX-10.3) — 19KB
• 0001477932-24-001001.txt ( ) — 368KB
• meec-20240227.xsd (EX-101.SCH) — 6KB
• meec-20240227_lab.xml (EX-101.LAB) — 12KB
• meec-20240227_cal.xml (EX-101.CAL) — 1KB
• meec-20240227_pre.xml (EX-101.PRE) — 8KB
• meec-20240227_def.xml (EX-101.DEF) — 2KB
• meec_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 27, 2024, Midwest Energy Emissions Corp. (the "Company"), along with its wholly-owned subsidiary, MES, Inc. ("MES"), entered into an Unsecured Debt Restructuring Agreement (the "Debt Restructuring Agreement") with AC Midwest Energy LLC ("AC Midwest") which replaces and supersedes the Unsecured Note Financing Agreement and Reaffirmation of Guaranty entered into with AC Midwest on February 25, 2019, as amended on October 28, 2022 (the "Unsecured Note Financing Agreement"). Pursuant to the Unsecured Note Financing Agreement, prior to February 27, 2024, AC Midwest was the holder of an unsecured note with a principal amount outstanding of $13,154,930.61 which was issued on February 25, 2019 (the "Unsecured Note"). The Unsecured Note was scheduled to mature on August 25, 2025 and bears a zero cash interest rate. Pursuant to the Unsecured Note Financing Agreement, AC Midwest was also entitled to a "non-recourse" profit participation preference equal to $17,654,930.60 (the "Profit Share"). Prior to maturity, the outstanding principal, as well as the Profit Share, were to be paid from Net Litigation Proceeds from claims relating to the Company's intellectual property, Net Revenue Share, Adjusted Free Cash Flow and Equity Offering Net Proceeds (as such terms are defined in the Unsecured Note Financing Agreement). Any remaining principal balance due on the Unsecured Note would be due and payable in full on the maturity date. The Profit Share, however, if not paid in full on or before the maturity date would remain subject to the Unsecured Note Financing Agreement until full and final payment. Prior to February 27, 2024, there also remained outstanding to AC Midwest a principal balance of $271,686.10 due under a secured noted of the Company issued on November 29, 2016 in the original principal amount of $9,646,686, which had a maturity date of August 25, 2025 (the "Secured Note"). The Secured Note had been

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1* Unsecured Debt Restructuring Agreement among Midwest Energy Emissions Corp., MES, Inc. and AC Midwest Energy LLC dated as of February 27, 2024 10.2 Unsecured Replacement Note dated February 27, 2024 10.3 Satisfaction and Discharge of Secured Debt among Midwest Energy Emissions Corp., MES, Inc. and AC Midwest Energy LLC dated as of February 27, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Portions of this exhibit have been omitted pursuant to Rule 601(b)(10) of Regulation S-K. 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Midwest Energy Emissions Corp. Date: March 4, 2024 By: /s/ Richard MacPherson Richard MacPherson President and Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR