Motorsport Games Inc. Announces 2024 Annual Meeting of Stockholders
Ticker: MSGM · Form: DEF 14A · Filed: Apr 19, 2024 · CIK: 1821175
Sentiment: neutral
Topics: Motorsport Games, Annual Meeting, Proxy Statement, Director Election, Auditor Ratification
TL;DR
<b>Motorsport Games Inc. will hold its 2024 Annual Meeting of Stockholders on June 11, 2024, to elect a director and ratify auditors.</b>
AI Summary
Motorsport Games Inc. (MSGM) filed a Proxy Statement (DEF 14A) with the SEC on April 19, 2024. Annual meeting scheduled for June 11, 2024, at 11:00 am local time in Miami, Florida. Key agenda items include election of a Class II director and ratification of Grant Thornton LLP as independent auditor for FY2024. Record date for stockholder eligibility to vote is April 19, 2024. Stockholders can vote electronically, by phone, or by mail. Stephen Hood, CEO and President, issued the notice on April 19, 2024.
Why It Matters
For investors and stakeholders tracking Motorsport Games Inc., this filing contains several important signals. The election of a Class II independent director is crucial for corporate governance and oversight. Ratifying Grant Thornton LLP ensures continued independent financial auditing for the fiscal year ending December 31, 2024.
Risk Assessment
Risk Level: low — Motorsport Games Inc. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain significant new financial or operational information, indicating low immediate risk.
Analyst Insight
Stockholders should review the director nominee's qualifications and consider their vote on the auditor ratification.
Key Numbers
- June 11, 2024 — Annual Meeting Date (2024 annual meeting of stockholders.)
- 11:00 am — Meeting Time (Scheduled time for the 2024 annual meeting.)
- April 19, 2024 — Record Date (Date for determining stockholders eligible to vote.)
- 2026 — Director Term Expiration (Term expiration year for the elected Class II director.)
- December 31, 2024 — Fiscal Year End (Fiscal year for which Grant Thornton LLP is proposed as auditor.)
Key Players & Entities
- Motorsport Games Inc. (company) — Registrant and filer of the proxy statement.
- June 11, 2024 (date) — Date of the 2024 annual meeting of stockholders.
- April 19, 2024 (date) — Record date for determining stockholders entitled to vote.
- Grant Thornton LLP (company) — Proposed independent registered public accounting firm for FY2024.
- Stephen Hood (person) — Chief Executive Officer and President of Motorsport Games Inc.
- Miami, Florida (location) — Location of the company's principal executive offices and the annual meeting.
FAQ
When did Motorsport Games Inc. file this DEF 14A?
Motorsport Games Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 19, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Motorsport Games Inc. (MSGM).
Where can I read the original DEF 14A filing from Motorsport Games Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Motorsport Games Inc..
What are the key takeaways from Motorsport Games Inc.'s DEF 14A?
Motorsport Games Inc. filed this DEF 14A on April 19, 2024. Key takeaways: Annual meeting scheduled for June 11, 2024, at 11:00 am local time in Miami, Florida.. Key agenda items include election of a Class II director and ratification of Grant Thornton LLP as independent auditor for FY2024.. Record date for stockholder eligibility to vote is April 19, 2024..
Is Motorsport Games Inc. a risky investment based on this filing?
Based on this DEF 14A, Motorsport Games Inc. presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting and does not contain significant new financial or operational information, indicating low immediate risk.
What should investors do after reading Motorsport Games Inc.'s DEF 14A?
Stockholders should review the director nominee's qualifications and consider their vote on the auditor ratification. The overall sentiment from this filing is neutral.
How does Motorsport Games Inc. compare to its industry peers?
Motorsport Games Inc. operates in the video game industry, specifically focusing on racing simulation games.
Are there regulatory concerns for Motorsport Games Inc.?
The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies from stockholders.
Risk Factors
- Election of Directors [low — regulatory]: The company needs to elect a Class II director to serve a two-year term expiring in 2026, which is a standard governance requirement.
- Auditor Ratification [low — regulatory]: The selection of Grant Thornton LLP as the independent registered public accounting firm for the year ending December 31, 2024, requires stockholder ratification.
Industry Context
Motorsport Games Inc. operates in the video game industry, specifically focusing on racing simulation games.
Regulatory Implications
The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies from stockholders.
What Investors Should Do
- Review the qualifications of the director nominee.
- Vote on the ratification of Grant Thornton LLP as the independent auditor.
- Ensure your proxy is submitted by the deadline or attend the meeting in person.
Key Dates
- 2024-06-11: Annual Meeting of Stockholders — To elect a director and ratify auditors.
- 2024-04-19: Record Date — Determines stockholders eligible to vote at the annual meeting.
Year-Over-Year Comparison
This filing is a definitive proxy statement (DEF 14A) for the annual meeting, following the typical procedural requirements for public companies.
Filing Stats: 4,718 words · 19 min read · ~16 pages · Grade level 11.8 · Accepted 2024-04-19 15:07:20
Key Financial Figures
- $0.0001 — 722,728 shares of Class A common stock, $0.0001 par value per share (“Class A Com
Filing Documents
- formdef14a.htm (DEF 14A) — 268KB
- proxy_001.jpg (GRAPHIC) — 738KB
- proxy_002.jpg (GRAPHIC) — 842KB
- 0001493152-24-015315.txt ( ) — 2444KB
From the Filing
DEF 14A 1 formdef14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under §240.14a-12 Motorsport Games Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. MOTORSPORT GAMES INC. 5972 NE 4th Avenue Miami, Florida 33137 Notice of Annual Meeting of Stockholders to be held on June 11, 2024 To Our Stockholders: The 2024 annual meeting of stockholders of Motorsport Games Inc. (the “Company”) will be held on June 11, 2024, 11:00 am, local time, at the Company’s offices located at 5972 NE 4th Avenue, Miami, Florida 33137, for the following purposes: 1. To elect one Class II director of the Company, who shall be an independent director as defined by applicable rules, to serve for a two-year term expiring in 2026. 2. To ratify the selection of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2024. 3. To transact such other business as may properly come before the annual meeting or any postponement or adjournment thereof. The board of directors of the Company has fixed April 19, 2024 as the record date for the determination of stockholders entitled to vote at the annual meeting. Only stockholders of record at the close of business on that date will be entitled to notice of, and to vote at, the annual meeting or any postponement or adjournment thereof. If you elected to receive our annual report and proxy statement electronically over the Internet you will not receive a paper proxy card. The annual report and proxy statement are available at www.proxyvote.com . You are cordially invited to attend the meeting in person. Whether or not you expect to attend the meeting in person, you are urged to vote by electronic access, phone or mail. By Order of the Board of Directors. /s/ Stephen Hood Stephen Hood, Chief Executive Officer and President Miami, Florida April 19, 2024 2 MOTORSPORT GAMES INC. 5972 NE 4th Avenue Miami, Florida 33137 PROXY INTRODUCTION General Motorsport Games Inc. (the “Company,” “we,” “us,” or “our”) is a Delaware corporation with its principal executive offices located at 5972 NE 4th Avenue, Miami, Florida 33137. The Company’s telephone number is (305) 507-8799. Unless you elected to receive printed copies of the proxy materials in prior years, you will receive a Notice of Internet Availability of Proxy Materials by mail (the “Internet Notice”). The Internet Notice will tell you how to access and review the proxy materials. If you received an Internet Notice by mail and would like to receive a printed copy of the proxy materials, you should follow the instructions included on the Internet Notice. The Internet Notice is first being sent to stockholders on or about April 23, 2024. The proxy statement and the form of proxy relating to the annual meeting are first being made available to stockholders on or about April 23, 2024. The 2023 annual meeting of stockholders will be held on June 11, 2024, at 11:00 am, local time, at the Company’s offices located at 5972 NE 4th Avenue, Miami, Florida 33137. We are paying the cost of this solicitation. In addition to solicitation by mail, proxies may be solicited in person or by telephone, e-mail, facsimile or other means by our officers or regular employees, without paying them any additional compensation or remuneration. Arrangements have also been made with brokers, dealers, banks, voting trustees and other custodians, nominees and fiduciaries to forward proxy materials and annual reports to the beneficial owners of the shares held of record by such persons, and we will, upon request, reimburse them for their reasonable expenses in so doing. A copy of our annual report for the fiscal year ended December 31, 2023 (which includes our audited financial statements for the two fiscal years ended December 31, 2023 and December 31, 2022) is accessible via the Internet at our web site (http://www.motorsportgames.com), and copies of the annual report will be provided to any stockholder promptly upon request. Such annual report is not, however, incorporated into this proxy statement and it is not to be deemed a part of the proxy soliciting material. Purpose of the Annual Meeting The following matt