Current Report Filing (8-k)
10 March 2018 - 1:38AM
Edgar (US Regulatory)
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): March 8, 2018
MGT
Capital Investments, Inc.
Delaware
|
|
001-32698
|
|
13-4148725
|
(State
or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
|
|
|
|
|
512
S. Mangum Street, Suite 408
Durham,
NC
|
|
27701
|
|
(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))
|
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.
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
|
On
March 8, 2018, the board of directors (the “Board”) of MGT Capital Investments, Inc. (the “Company”) appointed
Robert S. Lowrey as Chief Financial Officer, Treasurer and Secretary of the Company effective March 1, 2018.
Mr.
Lowrey, 57, most recently served as a Director of Finance for Bioventus LLC, a privately held medical device company, from January
2013 through September 2017. Prior to Bioventus, Mr. Lowrey served as the Controller and Principal Accounting Officer for BioCryst
Pharmaceutics, Inc., from January 2011 through January 2013. Mr. Lowrey has previously served in various financial roles at Dex
One and was employed by Ernst & Young, LLP for 11 years, where he served both public and private companies. Mr. Lowrey holds
a B.A. degree in Business Administration from Grove City College and is a licensed CPA in North Carolina as well as a Charted
Global Management Accountant. Mr. Lowrey is also a member of the America Institute of Certified Public Accountants and the North
Carolina Association of CPAs.
Mr.
Lowrey does not have any family relationships with any of the directors, executive officers, or any people nominated or chosen
by the Company to become a director or executive officer. Mr. Lowrey is not a party to any transaction listed in Item 404(a) of
Regulation S-K.
In
connection with Mr. Lowrey’s appointment as Chief Financial Officer, Treasurer and Secretary, the Company entered into an
Executive Employment Agreement (the “Employment Agreement”) with Mr. Lowrey, which was executed on March 8, 2018.
The Employment Agreement provides that Mr. Lowrey has been appointed for an initial term of two years. Mr. Lowrey is entitled
to receive an annualized base salary of $240,000. Mr. Lowrey will also receive a one-time signing bonus of $10,000. Mr. Lowrey
is also eligible for a cash and/or equity bonus as the Compensation Committee may determine, from time to time, based on meeting
performance objectives and bonus criteria to be mutually identified by Mr. Lowrey and the Compensation Committee. In connection
with the execution of the Employment Agreement, the Company issued to Mr. Lowrey 750,000 shares of the Company’s restricted
common stock, pursuant to the Company’s 2016 Stock Option Plan vesting over a two year period.
The
foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference
to the Employment Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item
7.01
|
Regulation
FD Disclosure.
|
On
March 9, 2018, the Company announced the appointment of Mr. Lowrey as Chief Financial Officer, Treasurer and Secretary in a press
release. A copy of the press release is attached to this report as Exhibit 99.1.
The
information contained in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of
the Exchange Act, or incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act,
except as shall be expressly set forth by specific reference in such a filing. The furnishing of the information in this Current
Report on Form 8-K is not intended to, and does not, constitute a representation that such furnishing is required by Regulation
FD or that the information contained in this Current Report on Form 8-K constitutes material investor information that is not
otherwise publicly available.
This
Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect
the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among
other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,”
and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results
to differ materially from those anticipated at the date of this Current Report on Form 8-K. The Company disclaims any obligation
to, and will not, update any forward-looking statements to reflect events or circumstances after the date hereof. Investors are
cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.
Item
9.01
|
Financial
Statements and Exhibits.
|
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:
March 9, 2018
|
By:
|
/s/
Robert B. Ladd
|
|
Name:
|
Robert
B. Ladd
|
|
Title:
|
President
|
MGT Capital Investments (PK) (USOTC:MGTI)
Historical Stock Chart
From Apr 2024 to May 2024
MGT Capital Investments (PK) (USOTC:MGTI)
Historical Stock Chart
From May 2023 to May 2024