# Project Nickel LLC — restructuring/exchange_offer [announced]
Source: SEC API (secapi.ai) · situation sit_f35e24a17c820a1fdba4 · retrieved 2026-08-12T06:59:53.929Z

## Overview
MGT Capital Investments, Inc. is a Delaware corporation engaged in finance services.

On June 30, 2026, MGT Capital Investments, Inc. and Project Nickel LLC entered into a Secured Convertible Promissory Note Exchange Agreement, pursuant to which Project Nickel agreed to exchange and extinguish the 2025 Note with a principal balance of $1,220,240 for (i) 3,250,000 shares of Series E Convertible Preferred Stock, each convertible into 1,000 shares of Common Stock, and (ii) 750,131,126 newly-issued shares of Common Stock. Following this exchange, Project Nickel beneficially owns 3,250,131,126 shares of Common Stock, representing 51.66% of the Issuer's outstanding shares as of August 3, 2026.

## Terms
- Counterparty: MGT Capital Investments, Inc. · Deal value: $1.2M · Consideration: mixed · Stake: 51.66%

## Key dates
- Announced 2026-08-04

## Timeline
- 2026-08-04 · SCHEDULE 13D/A (0001493152-26-036048): SCHEDULE 13D/A - Project Nickel LLC — *MGT Capital Investments, Inc. is a Delaware corporation engaged in finance services.* On June 30, 2026, MGT Capital Investments, Inc. and Project Nickel LLC entered into a Secured Convertible Promissory Note Exchange Agreement, pursuant to which Project Nickel agreed to exchange and extinguish the 2025 Note with a principal balance of $1,220,240 for (i) 3,250,000 shares of Series E Convertible Preferred Stock, each convertible into 1,000 shares of Common Stock, and (ii) 750,131,126 newly-issued shares of Common Stock. Following this exchange, Project Nickel beneficially owns 3,250,131,126 shares of Common Stock, representing 51.66% of the Issuer's outstanding shares as of August 3, 2026.
  https://www.sec.gov/Archives/edgar/data/2039927/0001493152-26-036048.txt

## Citations
- 0001493152-26-036048 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000149315226036048