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Stockholders’ Equity
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS’ EQUITY
NOTE 16:- STOCKHOLDERS’ EQUITY

 

On March 9, 2021, as a part of closing the Cosmos Transaction, Mawson issued a total of 428,270,616 shares to Mawson AU shareholders pre stock split. There remained 50,558,133 shares pre stock split that are to be issued once the approval of increase in authorized capital has been finalized. On May 20, 2021, the Authorized Capital increased from 500,000,000 to 800,000,000 shares.

 

On June 2, 2021, the Company issued 3,475,970 shares to a combination of Mawson AU shareholders, and service providers to Mawson AU, who were eligible for shares on 31 December 2021.

 

On June 15, 2021, the final 48,983,148 shares under the Cosmos Transaction were issued to Mawson AU shareholders.

 

On August 6, 2021, the Company finalized the 2021 PIPE Agreements with the 2021 PIPE Investors. Pursuant to the 2021 PIPE Agreements, the Company agreed to sell to the 2021 PIPE Investors, and the 2021 PIPE Investors agreed to purchase from the Company, in a private placement, an aggregate of 46,164,019 shares of common stock pre reverse stock split for a purchase price of $0.80 per share giving rise to gross proceeds of $36,931,215. 

 

On August 13, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares and the notes thereto, pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company, dated August 11, 2021, included in the Company’s Current Report on Form 8-K/A filed August 11, 2021.

 

On August 18, 2021, Mawson performed a share conversion of the outstanding 178 shares of Series A Preferred Stock 17,800 shares of common stock of Mawson.

 

On August 30, 2021, Mawson issued an additional 62,500 (625,000 pre reverse stock split) shares of common stock for a purchase price of $8.00 per share ($0.80 per share pre reverse stock split) under the 2021 PIPE Agreements of August 6, 2021, resulting in an additional $500,000 of gross proceeds under the 2021 PIPE Agreements, taking the total raised to $37,431,215.

 

On September 28, 2021, Mawson Infrastructure Group Inc entered into an underwriting agreement with H.C. Wainwright & Co., LLC, as representative, of the sole underwriter, in connection with the Company’s previously announced public offering of 3,913,044 shares of the Company’s common stock, $0.001 par value per share and accompanying 3-year warrants to purchase up to 1,956,522 shares of Common Stock with an exercise price of $13.80, at a public offering price of $11.50 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriter an option, exercisable for 30 days, to purchase up to an additional 586,956 shares of Common Stock at the public offering price, less the underwriting discount and commissions (the “Option Shares,” and together with the Firm Shares, the “Shares”) and 293,478 accompanying warrants (the “Option Warrants,” and together with the Firm Warrants, the “Warrants”). On September 28, 2021, the Representative gave us notice of its exercise of its option to purchase 293,478 Option Warrants for approximately an additional $5,870. The closing of the Offering occurred on October 1, 2021. The net proceeds to the Company from the Offering (including the sale of additional Option Warrants), excluding any exercise by the Underwriters of their option to purchase any of the Option Shares, were approximately $41,234,050, after deducting underwriter fees and estimated offering expenses payable by us.

 

On October 12, 2021, H.C Wainwright exercised their 871,098 warrants into ordinary shares at a price of $0.01.

 

On November 5, 2021, W Capital exercised their 825,000 warrants into ordinary shares at a price of $0.01.

 

Restricted Stock

 

As of December 31, 2021, 17,628,737 of the 48,072,974 shares of common stock issued as part of the compensation of Cosmos Transaction are restricted in trading under the Restricted Stock Agreement.

 

The agreements ended with each shareholder on December 31, 2021, but the stock remains restricted on December 31 and will be converted to common stock during quarter one of 2022.

 

Series A Preferred Stock

 

As of December 31, 2021, there are no shares of Series A Preferred Stock outstanding.

 

Common Stock Warrants

 

A summary of the status of the Company’s outstanding stock warrants and changes during the year ended December 31, 2021, is as follows:   

 

   Number
of
Warrants		   Weighted Average Exercise Price   Weighted Average Remaining Contractual Life (in years) 
Outstanding as of December 31, 2020   14,219           
Issued   5,518,886   $8.77    2.78 
Exercised   (2,008,916)          
Expired   
-
           
Outstanding as of December 31, 2021   3,524,189   $8.77    2.78 
Warrants exercisable as of December 31, 2021   3,524,189   $8.77    2.78 

 

On September 30, 2021, the Company entered into an underwritten capital raise with the Representative, which resulted in the issuance of 2,250,270 warrants to investors at an exercise price of $13.80 and with an expiry of 30 September 2024. In addition, and as part of the underwriting agreement, the Representative and its designees were issued 273,913 warrants with an exercise price of $14.375 and an expiry of 30 September 2024.

 

On October 12, 2021, H.C Wainwright exercised their 871,098 warrants into ordinary shares at a price of $0.01.  

 

On November 5, 2021, W Capital exercised their 825,000 warrants into ordinary shares at a price of $0.01.