MGT Capital Investments (OTC: MGTI) linked holder sells 3.25M preferred shares
Rhea-AI Filing Summary
MGT Capital Investments, Inc. reports that Project Nickel LLC, an entity associated with reporting person Grady Kittrell through DAXvest LLC, sold 3,250,000 shares of Series E Convertible Preferred Stock on 2026-07-31 at $0.10 per share in an indirect transaction.
After this sale, Project Nickel LLC reported holding 0 shares of this security. DAXvest LLC and Mr. Kittrell disclaim beneficial ownership of these securities, and the sale was not reported as made under a Rule 10b5-1 trading plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,250,000 shares
Net Sell
1 txn
Insider
Kittrell Grady, Project Nickel LLC, DAXvest LLC
Role
10% Owner | 10% Owner | 10% Owner
Sold
3,250,000 shs ($325K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Series E Convertible Preferred Stock F1 | 3,250,000 | $0.10 | $325K |
Holdings After Transaction:
Series E Convertible Preferred Stock — 0 shares (Indirect, By Project Nickel LLC)
Footnotes (1)
- F1. These securities are directly held by Project Nickel LLC. DAXvest LLC is the managing member of Project Nickel LLC and Mr. Kittrell is the sole member and manager of DAXvest LLC. DAXvest LLC and Mr. Kittrell disclaim beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
Key Figures
Shares sold: 3,250,000 shares
Sale price: $0.10 per share
Holdings after sale: 0 shares
+1 more
4 metrics
Shares sold
3,250,000 shares
Series E Convertible Preferred Stock sold on 2026-07-31
Sale price
$0.10 per share
Per-share sale price for the 3,250,000 preferred shares
Holdings after sale
0 shares
Indirect holdings of Series E Convertible Preferred Stock by Project Nickel LLC after transaction
Net shares sold
3,250,000 shares
Net sell volume across reported transactions
Key Terms
Series E Convertible Preferred Stock, beneficial ownership, Section 16
3 terms
Series E Convertible Preferred Stock financial
"security title "Series E Convertible Preferred Stock" was sold indirectly"
Series E convertible preferred stock is a class of investment shares issued in a later-stage financing round that behave like a hybrid between a safety-first claim and an option to become ordinary shares. Think of it as a VIP ticket that gives owners priority on payments and protections if things go wrong, but can be swapped for regular shares later—important to investors because it affects payout priority, potential dilution of ownership, voting power, and the company’s implied valuation.
beneficial ownership regulatory
"DAXvest LLC and Mr. Kittrell disclaim beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 regulatory
"not be deemed an admission that the reporting person is the beneficial owner for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction involving MGTI is reported for Project Nickel LLC?
Project Nickel LLC, linked to Grady Kittrell through DAXvest LLC, sold 3,250,000 shares of MGT Capital Investments’ Series E Convertible Preferred Stock on 2026-07-31 at $0.10 per share in an indirect sale transaction.
Who are the reporting persons named in this MGTI insider report?
The report identifies Grady Kittrell, Project Nickel LLC, and DAXvest LLC as reporting persons and ten percent owners. The securities are directly held by Project Nickel LLC, with DAXvest LLC as its managing member and Mr. Kittrell as DAXvest’s sole member and manager.
What are the remaining holdings after the MGTI preferred stock sale?
Following the reported transaction, Project Nickel LLC’s holdings of MGTI Series E Convertible Preferred Stock are shown as 0 shares. The disposition of 3,250,000 shares on 2026-07-31 fully eliminated its reported position in this specific security class.
Was the MGTI insider sale reported as under a Rule 10b5-1 trading plan?
No. The transaction was not reported as made under a Rule 10b5-1 trading plan. The Rule 10b5-1 affirmation checkbox is not marked for this insider activity, indicating it was not designated as a pre-arranged trading-plan sale.
Do Grady Kittrell and DAXvest LLC claim beneficial ownership of the MGTI securities?
No. The footnote explains that DAXvest LLC and Mr. Kittrell disclaim beneficial ownership of the securities directly held by Project Nickel LLC. It states that this should not be considered an admission of beneficial ownership for Section 16 or any other purpose.