Mawson Infrastructure Group Inc. Files 8-K

TL;DR

Mawson Infrastructure Group Inc. filed an 8-K on Aug 9, 2024, for a material agreement.

AI Summary

Mawson Infrastructure Group Inc. entered into a Material Definitive Agreement on August 9, 2024, related to its financial statements and exhibits. The company, formerly known as Wize Pharma, Inc., OphthaliX, Inc., and DENALI CONCRETE MANAGEMENT INC, is incorporated in Delaware and headquartered in Midland, Pennsylvania.

Why It Matters

This filing indicates a significant contractual event for Mawson Infrastructure Group Inc., potentially impacting its financial reporting and operational status.

Risk Assessment

Risk Level: low — The filing is a standard 8-K report detailing a material definitive agreement and financial exhibits, which is routine corporate disclosure.

Key Players & Entities

• Mawson Infrastructure Group Inc. (company) — Registrant
• August 9, 2024 (date) — Date of earliest event reported
• Wize Pharma, Inc. (company) — Former company name
• OphthaliX, Inc. (company) — Former company name
• DENALI CONCRETE MANAGEMENT INC (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• Midland, Pennsylvania (location) — Principal business address

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value MIGI The Nasdaq Stock Market
• $92 million — . The contract is expected to generate $92 million 1 in the first 2 years, with cumulative
• $285 million — s, with cumulative revenue potential of $285 million 1 through 6-year initial contract term.

Filing Documents

• f8k_081224.htm (8-K) — 22KB
• exh_101.htm (EX-10.1) — 154KB
• exh_991.htm (EX-99.1) — 9KB
• 0001171843-24-004673.txt ( ) — 417KB
• gnw-20190101.xsd (EX-101.SCH) — 3KB
• gnw-20190101_def.xml (EX-101.DEF) — 25KB
• gnw-20190101_lab.xml (EX-101.LAB) — 33KB
• gnw-20190101_pre.xml (EX-101.PRE) — 22KB
• f8k_081224_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Mawson Infrastructure Group Inc. (the "Company")'s wholly owned subsidiary Mawson Hosting, LLC (the "Company"), and BE Global Development Limited (the "Customer"), executed a Service Provider Agreement dated August 9, 2024, for the Company to provide AI/HPC colocation services (the "Agreement") to the Customer. In accordance with the terms of the agreement, the Company will provide to the Customer initial 20 megawatts (MW) of digital infrastructure for AI/HPC colocation services in connection with AI/HPC to colocate the Customer's AI/HPC deployment at the Company's facilities at pre-determined pricing for the first two years of the Agreement, with the pricing subject to updates every two years, and with an initial six-year contract term. The contract is expected to generate $92 million 1 in the first 2 years, with cumulative revenue potential of $285 million 1 through 6-year initial contract term. In addition, the Company and the Customer also entered into an additional non-binding Letter of Intent (the "LOI") to supplement the binding 20 MW Agreement, to plan for further expansion of their business relationship to a total of 144 MW over time. 1. Revenue subject to change depending on operating capacity ramp up timeframes as well as potential colocation rate updates every two years as per the Agreement The description of these Agreements is only a summary and is qualified in its entirety by reference to the full text of such document, which is filed as an exhibit to this Current Report on Form 8-K and which is incorporated herein by reference. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated August 12 2024 10.1 Redacted Agreement between Mawson Hosting LLC and BE Global Development Limited Redacted LOI between Mawson Hosting LLC and BE Global Development Limited 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document The foregoing description of the Service Provider Agreement does not purport to be complete and is qualified in its entirety by reference to the redacted text of the Service Provider Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Letter of Intent and certain portions of this exhibit have been redacted pursuant to Regulation S-K Item 601(b)(10)(iv) because such information is both not material and would likely cause competitive harm to the Company if publicly disclosed. In addition, certain schedules and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K.A copy of any omitted schedule or exhibit will be furnished supplementally to the Securities and Exchange Commission upon request; provided, however that the Company may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedule or exhibit so furnished. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Mawson cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as "expect," "intend," "plan," "anticipate," "believe," and "will," among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statement

View Full Filing

View this 8-K filing on SEC EDGAR