Form 8-K - Current report
23 Fevereiro 2024 - 7:16PM
Edgar (US Regulatory)
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0001218683
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2024-02-23
2024-02-23
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UNITED STATES
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): February 23, 2024
Mawson Infrastructure Group Inc.
(Exact name of registrant as specified in its charter)
Delaware |
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001-40849 |
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88-0445167 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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950 Railway Ave., Midland, PA |
15056 |
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(Address of principal executive offices) |
(Zip Code) |
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Registrant’s telephone number, including area code (412) 515-0896
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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:
Title of Each Class |
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Trading Symbol(s) |
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Name of Each Exchange on Which Registered |
Common Stock, $0.001 par value |
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MIGI |
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The Nasdaq Stock Market LLC |
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 5.02 (e) | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
As previously noted in the Company’s SEC filing in the Quarterly report on form 10Q for
period ending September 30, 2023, filed November 13, 2023, the Company’s Board Audit Committee commenced an investigation in the
third quarter of 2023 into potential related party transactions involving former Board member and CEO, Mr. James E. Manning, including
but not limited to Mr. Manning’s failure to appropriately disclose certain transactions, late or incomplete disclosure of certain
transactions, and a failure to confirm to the Company’s satisfaction that the disclosures made were complete.
Following the investigation, the Audit Committee reported its initial findings
to the Board on February 15, 2024. Based on the information obtained to date — and Mr. Manning’s repeated refusal to either
provide a full and complete disclosure of his related party transactions (or confirm the accuracy of prior related party disclosures provided
to the Company) — the Audit Committee determined that there is a prima facie basis to conclude that Mr. Manning did not fully and
properly disclose his related party transactions to the Company. Based on this determination, the Board resolved on February 19, 2024,
that certain RSUs and other equity grants provided for in Mr. Manning’s May 2023 Separation Agreement should not be issued by the
Company.
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 statements. These forward-looking
statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect.
Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result
of various risks and uncertainties, which include, without limitation, the possibility that Mawson’s need and ability to raise additional
capital, the development and acceptance of digital asset networks and digital assets and their protocols and software, the reduction in
incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility in the value and prices of
cryptocurrencies and further or new regulation of digital assets. More detailed information about the risks and uncertainties affecting
Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the
SEC on March 23, 2023, and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on May 15, 2023, August 21, 2023, November
13, 2023, and in other filings Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking
statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual
results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update
such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required
by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Mawson Infrastructure Group Inc. |
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Date: February 23, 2024 |
By: |
/s/ Greg Martin |
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Greg Martin |
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Board Chair |
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