Mobile Infrastructure Corp. Reports Material Agreement and Financial Obligations

TL;DR

MIC filed an 8-K detailing a new material agreement and financial obligations, plus equity sales.

AI Summary

Mobile Infrastructure Corp. (formerly Fifth Wall Acquisition Corp. III) announced on September 11, 2024, the entry into a material definitive agreement and the creation of a direct financial obligation. The company also reported on unregistered sales of equity securities and other events. The filing details financial obligations and equity transactions without specifying dollar amounts or specific counterparties in the provided text.

Why It Matters

This filing indicates significant financial and contractual developments for Mobile Infrastructure Corp., potentially impacting its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and financial obligations, which inherently carry risks related to execution and financial impact.

Key Players & Entities

• Mobile Infrastructure Corp. (company) — Registrant
• Fifth Wall Acquisition Corp. III (company) — Former name of Registrant
• September 11, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share BEEP NYSE Ameri
• $40.4 million — ent provides for, among other things, a $40.4 million revolving credit facility, maturing on
• $15.0 million — ditional Shares ") if the Company draws $15.0 million or more under the Revolving Facility (c
• $10,000,000 — Program ") for the repurchase of up to $10,000,000 of shares of the Company's outstanding
• $299.84 — ompany, which will be paid at a rate of $299.84 per share on or about September 30, 202
• $4.791 — tember, which will be paid at a rate of $4.791 per share of Series A Preferred Stock a
• $4.583 — r share of Series A Preferred Stock and $4.583 per share of Series 1 Preferred Stock o

Filing Documents

• form8-k.htm (8-K) — 58KB
• ex10-1.htm (EX-10.1) — 465KB
• ex10-2.htm (EX-10.2) — 35KB
• ex99-1.htm (EX-99.1) — 21KB
• ex99-1_001.jpg (GRAPHIC) — 5KB
• 0001493152-24-035824.txt ( ) — 857KB
• beep-20240911.xsd (EX-101.SCH) — 3KB
• beep-20240911_lab.xml (EX-101.LAB) — 33KB
• beep-20240911_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 4KB

03

Item 2.03. Item 3.02 Unregistered Sales of Equity Securities The information contained in the disclosure set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02. The Consideration Shares will be exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended. Item 8.01 Other Events. Share Repurchase Program In addition, on September 11, 2024, the Company issued a press release (the " Press Release ") announcing that its board of directors (the " Board ") authorized a repurchase program (the " Share Repurchase Program ") for the repurchase of up to $10,000,000 of shares of the Company's outstanding Common Stock. Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. The repurchase program does not obligate the Company to acquire any particular amount of its Common Stock and may be suspended at any time at the Company's discretion. The timing and number of shares repurchased will depend on a variety of factors, including the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors. A copy of the Press Release dated September 11, 2024, regarding the Share Repurchase Program is filed as Exhibit 99.1 to this Current Report on Form 8-K. Payment of Preferred Stock Dividends Also on September 11, 2024, the Company announced that the Board declared the payment of accrued and unpaid dividends on the shares of Series A Preferred Stock, par val

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. MOBILE INFRASTRUCTURE CORPORATION Date: September 11, 2024 By: /s/ Stephanie Hogue Name: Stephanie Hogue Title: President, Treasurer, and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR