Mewawalla Amends Mawson Infrastructure Group Stake
Ticker: MIGI · Form: SC 13D/A · Filed: Nov 4, 2024 · CIK: 1218683
Sentiment: neutral
Topics: ownership-change, sec-filing, amendment
TL;DR
Rahul Mewawalla just updated his Mawson stake filing. Keep an eye on this.
AI Summary
Rahul Mewawalla has amended his Schedule 13D filing for Mawson Infrastructure Group Inc. on November 4, 2024. The filing indicates a change in beneficial ownership of the company's common stock. The specific details of the change in ownership and the exact number of shares involved are not fully detailed in the provided text, but it is an amendment to a previous filing.
Why It Matters
Changes in beneficial ownership filings like this can signal shifts in control or significant investment activity, potentially impacting the stock price and strategic direction of Mawson Infrastructure Group Inc.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can introduce volatility.
Key Players & Entities
- Mawson Infrastructure Group Inc. (company) — Subject Company
- Rahul Mewawalla (person) — Filing Person
- 0001218683 (company) — Central Index Key for Mawson Infrastructure Group Inc.
- 0001869191 (person) — Central Index Key for Rahul Mewawalla
- 57778N307 (dollar_amount) — CUSIP Number for Mawson Infrastructure Group Inc. Common Stock
FAQ
What is the specific nature of the change in beneficial ownership being reported by Rahul Mewawalla?
The provided text is an amendment to a Schedule 13D filing and indicates a change in beneficial ownership, but the specific details of the change (e.g., number of shares acquired or disposed of) are not present in this excerpt.
When was the event requiring this Schedule 13D/A filing amendment?
The date of the event which requires filing of this statement is November 2, 2024.
What is the CUSIP number for Mawson Infrastructure Group Inc. common stock?
The CUSIP number for Mawson Infrastructure Group Inc. Common Stock is 57778N307.
Who is authorized to receive notices and communications for this filing?
Rahul Mewawalla, C/O Mawson Infrastructure Group Inc., 950 Railroad Avenue, Midland, Pennsylvania 15059, is authorized to receive notices and communications.
What was Mawson Infrastructure Group Inc. formerly known as?
Mawson Infrastructure Group Inc. was formerly known as Wize Pharma, Inc. (name change 20171120), OphthaliX, Inc. (name change 20120207), and DENALI CONCRETE MANAGEMENT INC (name change 20030213).
Filing Stats: 1,015 words · 4 min read · ~3 pages · Grade level 12.4 · Accepted 2024-11-04 08:45:02
Key Financial Figures
- $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
Filing Documents
- ea0219262-13da1mewa_mawson.htm (SC 13D/A) — 45KB
- 0001213900-24-093762.txt ( ) — 47KB
Source
Item 3. Source and Amount of Funds or Other Consideration. Item 3 of the Schedule 13D is amended by adding the following paragraph to the end of such item: On November 21, 2023, the Reporting Person was granted stock options to purchase 1,750,000 shares of Common Stock vesting in different tranches based on the average market price of a share of Common Stock exceeding a specified target for at least thirty days, provided however, that if such condition was satisfied prior to January 1, 2025, the options that would vest as a result of such condition being satisfied would not vest until January 1, 2025. The conditions to vesting for 1,400,000 of the shares of Common Stock underlying the stock options have been satisfied and stock options to purchase 1,400,000 shares of Common Stock will vest on January 1, 2025.
Interest
Item 5. Interest in Securities of the Issuer. Item 5 of the Schedule 13D is amended and restated as follows: (a) The Reporting Person beneficially owns an aggregate of 3,308,892 shares of Common Stock, which represents 15.14% of the outstanding shares of Common Stock based upon the 18,553,603 shares of Common Stock of the Issuer outstanding as set forth in its quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 19, 2024 (the “Form 10-Q”). (b) The Reporting Person has the sole power to vote and to dispose of or direct the disposition of all shares of Common Stock beneficially owned by the Reporting Person. (c) On July 1, 2024, the Reporting Person was issued and vested 1,801,153 restricted stock units, and the Reporting Person received 1,035,120 shares of Common Stock on that date after settlement of the restricted stock units and 766,033 shares of Common Stock were withheld for taxes. On November 21, 2023, the Reporting Person was granted stock options to purchase 1,750,000 shares of Common Stock vesting in different tranches based on the average market price of a share of Common Stock exceeding a specified target for at least thirty days, provided however, that if such condition was satisfied prior to January 1, 2025, the options that would vest as a result of such condition being satisfied would not vest until January 1, 2025. The conditions to vesting for 1,400,000 of the shares of Common Stock underlying the stock options have been satisfied and stock options to purchase 1,400,000 shares of Common Stock will vest on January 1, 2025. On September 5, 2024, the Reporting Person was granted 2,500,000 Restricted Stock Units (“RSUs”), of which 833,333 will vest and settle on May 22, 2025, 833,333 will vest and settle on September 23, 2025, and 833,334 will vest and settle on March 31, 2026. (d) Not applicable. (e) Not applicable. 3 SIGNATURE After reasonable inquiry and to the best of t