• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Meta Materials Inc. filed SEC Form 8-K: Other Events

    6/21/24 4:30:06 PM ET
    $MMAT
    Semiconductors
    Technology
    Get the next $MMAT alert in real time by email
    8-K
    0001431959false00014319592024-06-172024-06-17

     

    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): June 17, 2024

     

     

    Meta Materials Inc.

    (Exact name of Registrant as Specified in Its Charter)

     

     

    Nevada

    001-36247

    74-3237581

    (State or Other Jurisdiction
    of Incorporation)

    (Commission File Number)

    (IRS Employer
    Identification No.)

     

     

     

     

     

    60 Highfield Park Dr

     

    Dartmouth, Nova Scotia, Canada

     

    B3A 4R9

    (Address of Principal Executive Offices)

     

    (Zip Code)

     

    Registrant’s Telephone Number, Including Area Code: 902 482-5729

     

    Not Applicable

    (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))

    Securities registered pursuant to Section 12(b) of the Act:


    Title of each class

     

    Trading
    Symbol(s)

     


    Name of each exchange on which registered

    Common Stock, par value $0.001 per share

     

    MMAT

     

    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 8.01.

    Other Events.

    Additional Deposit – Authentication

    As previously disclosed, on June 5, 2024, Nanotech Security Corp. (“NSC”), a wholly-owned subsidiary of the Company, received a deposit in the amount of $2.0 million (the “Initial Deposit”) under a deposit agreement contemplated by a non-binding term sheet (the “Term Sheet”) that NSC entered into with a U.S.-based authentication and information services company (“Authentication Buyer”) regarding the potential acquisition by Authentication Buyer of all of the assets used by NSC in connection with operation of the Company’s authentication business (the “Proposed Asset Sale”). On June 17, 2024, NSC received an additional deposit of $2.0 million (the “Additional Deposit”, and together with the Initial Deposit, the “Deposits”) from Authentication Buyer in connection with the Proposed Asset Sale. The Deposits will be applied to the final purchase price of the assets involved in the Proposed Asset Sale, and the Deposits may be used for working capital purposes prior to the closing of the Proposed Asset Sale. The Deposits must be repaid to Buyer upon certain triggering events, and the repayment of the Deposits, if applicable, is secured by a security interest on the personal and real property of NSC.

    The Term Sheet represents a mutual indication of interest regarding the Proposed Asset Sale and the terms of the Proposed Asset Sale are subject to contingencies, including the completion of customary due diligence by Buyer, the negotiation and execution of definitive agreements between the parties, and approval by Buyer, NSC and the Company of the Proposed Asset Sale. There can be no assurance that the Proposed Asset Sale will be completed on the terms contemplated in the Term Sheet or otherwise. There can also be no assurance that the Proposed Asset Sale, if completed, would be sufficient to resolve the Company’s ongoing liquidity issues.

    Sale of Certain Battery Assets

    In connection with its continued evaluation of strategic alternatives, on June 20, 2024, Meta Materials Inc. (the “Company”) entered into an Intellectual Property Purchase and Assignment Agreement (the “Purchase Agreement”) with a U.S.-based battery design and technology company (“Battery IP Buyer”), pursuant to which the Company sold and assigned to Battery IP Buyer certain intellectual property rights and other assets related to the Company’s NPORE business unit, including third-party license agreements (collectively, the “NPORE Assets”). Total consideration for the NPORE Assets was $825,000, payable in cash at closing. The Purchase Agreement contains customary representations, warranties, covenants and other terms for similar asset dispositions. The disposition of the NPORE Assets closed on June 20, 2024.

    Cautionary Note Regarding Forward-Looking Statements

    This report includes forward-looking information or statements regarding the Company and its subsidiaries, which may include, but are not limited to, statements with respect to the Proposed Asset Sale and sale of the NPORE Assets. Often but not always, forward-looking information can be identified by the use of words such as “pursuing”, “potential”, “predicts”, “projects”, “seeks”, “plans”, “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. For a discussion of these risks and uncertainties, and other important factors, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in subsequent filings with the Securities and Exchange Commission (“SEC”), as well as discussions of potential risks, uncertainties and other important factors in the Company’s subsequent filings with the SEC. Forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.


     

    SIGNATURES

    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 thereunto duly authorized.

     

     

     

    META MATERIALS INC.

     

     

     

     

    Date:

     June 21, 2024

    By:

    /s/ Uzi Sasson

     

     

     

    Uzi Sasson
    President and Chief Executive Officer

     

     


    Get the next $MMAT alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $MMAT

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $MMAT
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Meta Materials Announces Update on Naked Short Selling Investigation

      HALIFAX, NS / ACCESSWIRE / May 20, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced an update on the short selling investigation undertaken in June of 2023.In an initial press release from late June 2023, META outlined its preliminary analysis of potential naked short selling, and retained well-known analytics firm, Shareholder Intelligence Services, LLC to review trading patterns of the Company's common stock. Based on this analysis, and with zero tolerance for illegal naked short selling and other stock manipulation, META employed the services of law firms, Christian Attar and Warshaw Burstein (collectivel

      5/20/24 4:14:00 PM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Announces Workforce Reduction

      HALIFAX, NS / ACCESSWIRE / May 3, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced that the Company's Board of Directors approved a workforce reduction of approximately 80% of its employees, which is expected to be completed over the next few weeks. This difficult decision is in response to challenges associated with liquidity and securing additional financing.The Company continues to evaluate all available strategic alternatives including, but not limited to, the divestiture of assets, additional financing security and/or the sale of the Company. While all efforts are being expended in this pursuit, no assu

      5/3/24 4:05:00 PM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Schedules Corporate Update Webcast

      HALIFAX, NS / ACCESSWIRE / March 28, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced that the Company will host a corporate update webcast on Wednesday, April 3, 2024, at 4:30 PM EDT.Webcast DetailsDate: April 3, 2024Time: 4:30 PM EDT / 1:30 PM PDTTo register, please use the link below:https://audience.mysequire.com/webinar-view?webinar_id=c1c28435-13e0-47a8-81a7-f346dfed216cAbout Meta Materials Inc.Meta Materials Inc. (META) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products tha

      3/28/24 4:25:00 PM ET
      $MMAT
      Semiconductors
      Technology

    $MMAT
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13D/A filed by Meta Materials Inc. (Amendment)

      SC 13D/A - META MATERIALS INC. (0001431959) (Subject)

      2/14/23 9:58:00 PM ET
      $MMAT
      Semiconductors
      Technology
    • SEC Form SC 13G/A filed by Meta Materials Inc. (Amendment)

      SC 13G/A - META MATERIALS INC. (0001431959) (Subject)

      2/3/23 2:55:28 PM ET
      $MMAT
      Semiconductors
      Technology
    • SEC Form SC 13G filed by Meta Materials Inc.

      SC 13G - META MATERIALS INC. (0001431959) (Subject)

      2/10/22 3:21:41 PM ET
      $MMAT
      Semiconductors
      Technology

    $MMAT
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Harding John R was granted 119,900 shares, increasing direct ownership by 125% to 216,095 units (SEC Form 4)

      4 - META MATERIALS INC. (0001431959) (Issuer)

      12/22/23 9:27:42 PM ET
      $MMAT
      Semiconductors
      Technology
    • Joshi Vyomesh was granted 70,410 shares, increasing direct ownership by 13% to 595,620 units (SEC Form 4)

      4 - META MATERIALS INC. (0001431959) (Issuer)

      12/22/23 9:05:13 PM ET
      $MMAT
      Semiconductors
      Technology
    • Christilaw Allison was granted 100,000 shares, increasing direct ownership by 667% to 115,000 units (SEC Form 4)

      4 - META MATERIALS INC. (0001431959) (Issuer)

      12/22/23 8:57:50 PM ET
      $MMAT
      Semiconductors
      Technology

    $MMAT
    Financials

    Live finance-specific insights

    See more
    • Meta Materials Announces Preliminary Results for The Fourth Quarter 2023

      Fourth quarter 2023 revenue up 55% from the prior year comparable periodOperating expenses down 35% compared to the fourth quarter of 2022, excluding non-cash asset impairmentCash and cash equivalents totaled $10.3 million, basically in line with the September 2023 quarterFocus continued on core business lines, with ramped up sales initiatives in authentication, VLEPSIS, NANOWEB and battery materialsHALIFAX, NS / ACCESSWIRE / January 26, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced preliminary results for the fourth quarter ended December 31, 2023. In the fourth quarter of 2023, total revenue was approxi

      1/26/24 8:00:00 AM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Announces Financial Results for the Third Quarter 2023

      Third quarter 2023 revenue up quarter over quarter, supported by stronger product mix and partnershipsOperating expenses down 32% from the prior year comparable period$8.3 million in purchase orders in late August/September will be reflected in fourth quarter 2023 and 2024 resultsTechnologies introduced at end of third quarter (QUANTUM™ stripe, VLEPSIS® system) expected to gain traction in the fourth quarter and early 2024HALIFAX, NS / ACCESSWIRE / November 13, 2023 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today reported financial results for the third quarter ended September 30, 2023. In the third quarter of 2023, total

      11/13/23 8:30:00 AM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Announces FINRA Has Processed Corporate Action for Exchange of Series A Preferred

      HALIFAX, NS / ACCESSWIRE / December 7, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced that FINRA has processed and announced the corporate action of exchanging META's Series A Preferred shares (OTC:MMTLP) for shares of common stock of Next Bridge Hydrocarbons, Inc. on its daily list. Please see https://otce.finra.org/otce/dailyList which notes the following regarding the trading of shares of MMTLP on OTC and the distribution of the Next Bridge Hydrocarbons, Inc. shares:MMTLP shareholders with settled positions as of 12/12/22 Record Date will receive one (1) share of Next B

      12/7/22 7:00:00 AM ET
      $MMAT
      Semiconductors
      Technology

    $MMAT
    SEC Filings

    See more
    • Meta Materials Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

      8-K - META MATERIALS INC. (0001431959) (Filer)

      8/14/24 4:15:11 PM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Inc. filed SEC Form 8-K: Bankruptcy or Receivership, Leadership Update

      8-K - META MATERIALS INC. (0001431959) (Filer)

      8/9/24 9:00:17 AM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Inc. filed SEC Form 8-K: Other Events

      8-K - META MATERIALS INC. (0001431959) (Filer)

      8/1/24 4:30:49 PM ET
      $MMAT
      Semiconductors
      Technology

    $MMAT
    Leadership Updates

    Live Leadership Updates

    See more
    • Meta Materials Appoints Ms. Jennifer Cheraso as Chief Human Resources Officer

      HALIFAX, NS / ACCESSWIRE / October 23, 2023 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), a leader in advanced materials and nanotechnology, today announced the appointment of Ms. Jennifer Cheraso as Chief Human Resources Officer. Ms. Cheraso is a human resource executive with more than 25 years of experience. She is a dynamic leader with experience overseeing all aspects of human resources including strategy, organizational effectiveness, talent management, total rewards, M&A and change management. Ms. Cheraso's expertise comes from HR and cross-functional leadership positions in multiple industries including solar, aerospace, advanced materials, and technology.Prior to joi

      10/23/23 8:00:00 AM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Appoints Seasoned Executive, Jim Fusaro, as New CEO to Drive Next Stage of Growth

      HALIFAX, NS / ACCESSWIRE / October 17, 2023 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced that its Board of Directors has appointed Mr. Jim Fusaro as Chief Executive Officer, effective immediately. George Palikaras has been removed as President and CEO and is no longer with the Company.Mr. Fusaro is a business leader with 35 years of experience in solar, semiconductor, advanced materials, and aerospace. He brings significant experience and success leading large change management initiatives and developing and implementing strategies to transform businesses and to drive value."On behalf of the Board of Director

      10/17/23 12:50:00 AM ET
      $MMAT
      Semiconductors
      Technology
    • Meta Materials Appoints Tech Industry Veteran, Philippe Morali to its Board of Directors

      HALIFAX, NS / ACCESSWIRE / October 10, 2023 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), a leader in advanced materials and nanotechnology, today announced that it has appointed Mr. Philippe Morali to its Board of Directors. Mr. Morali brings more than 30 years of experience in financial leadership from strong technology companies, startups to Fortune 15, that are focused on a variety of markets. He has had extensive international operational experience in Europe and Asia.In his last position, Mr. Morali was CFO at eSilicon, an ASIC and IP supplier that was acquired by Inphi Corporation and Synopsys. Prior to eSilicon, he served as CFO for Quantenna Communications, Inc., a

      10/10/23 8:00:00 AM ET
      $MMAT
      Semiconductors
      Technology