MGT Capital Raises $500K via Private Placement
Ticker: MGTI · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1001601
| Field | Detail |
|---|---|
| Company | Mgt Capital Investments, INC. (MGTI) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: private-placement, equity-offering, capital-raise
TL;DR
MGT Capital just closed a $500K private placement, selling shares at $0.50 each. Warrants included.
AI Summary
MGT Capital Investments, Inc. announced on June 21, 2024, the closing of a private placement transaction involving the sale of 1,000,000 shares of its common stock at a purchase price of $0.50 per share, for gross proceeds of $500,000. The company also issued warrants to purchase an aggregate of 1,000,000 shares of common stock. This transaction is part of the company's ongoing efforts to raise capital.
Why It Matters
This capital raise provides MGT Capital with additional funds, potentially for operational expenses or strategic initiatives, which could impact its future growth and financial stability.
Risk Assessment
Risk Level: medium — The company is raising capital through a private placement at a low price per share, which can be dilutive and may indicate financial needs.
Key Numbers
- $500,000 — Gross Proceeds (Capital raised from the private placement)
- $0.50 — Price Per Share (The price at which shares were sold in the private placement)
- 1,000,000 shares — Shares Sold (Number of common shares sold in the private placement)
- 1,000,000 warrants — Warrants Issued (Number of warrants issued alongside the shares)
Key Players & Entities
- MGT Capital Investments, Inc. (company) — Issuer of securities
- June 21, 2024 (date) — Date of the private placement closing
- 1,000,000 shares (dollar_amount) — Number of shares sold in the private placement
- $0.50 (dollar_amount) — Purchase price per share
- $500,000 (dollar_amount) — Gross proceeds from the private placement
- 1,000,000 warrants (dollar_amount) — Number of warrants issued
FAQ
What were the gross proceeds from the private placement?
The gross proceeds from the private placement were $500,000.
What was the purchase price per share in the private placement?
The purchase price per share was $0.50.
How many shares of common stock were sold?
1,000,000 shares of common stock were sold.
Were any warrants issued in connection with the private placement?
Yes, warrants to purchase an aggregate of 1,000,000 shares of common stock were issued.
On what date did the private placement close?
The private placement closed on June 21, 2024.
Filing Stats: 380 words · 2 min read · ~1 pages · Grade level 11 · Accepted 2024-06-27 16:05:40
Filing Documents
- form8-k.htm (8-K) — 33KB
- 0001493152-24-025429.txt ( ) — 194KB
- mgti-20240621.xsd (EX-101.SCH) — 3KB
- mgti-20240621_lab.xml (EX-101.LAB) — 33KB
- mgti-20240621_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): June 21, 2024 MGT Capital Investments, Inc. Delaware 001-32698 13-4148725 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 2076 Foster Mill Drive LaFayette , GA 30728 ( 914 ) 630-7430 (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code) (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: None Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.02 Unregistered Sales of Equity Securities. On June 21, 2024, MGT Capital Investments, Inc. (the "Company") issued 103,500,000 shares of common stock upon the cashless exercise of 3,346,420 warrants. In issuing the securities described above, the Company relied upon the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933. Following this issuance, the Company has 1,140,670,903 shares outstanding. Signature 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. MGT Capital Investments, Inc. Date: June 27, 2024 By: /s/ Robert B. Ladd Name: Robert B. Ladd Title: Chief Executive Officer