M&A - Mag Mile Capital, Inc.

Form Type: DEF 14C

Filing Date: 2025-05-27

Corporate Action: Merger

Type: New

Accession Number: 000164117225012475

Filing Summary: On May 27, 2025, Mag Mile Capital, Inc. filed an Information Statement regarding the approved corporate action of changing its state of incorporation from Oklahoma to Delaware. The proposal was unanimously approved by stockholders holding approximately 87% of the voting power through a written consent in lieu of a special meeting on April 22, 2025. The effective date of this redomicile is set for July 1, 2025, allowing sufficient time for compliance and review under federal securities laws. The Company also filed Certificates of Merger with both Oklahoma and Delaware on May 2, 2025, and May 5, 2025 respectively. There are no changes to the Company's headquarters, management, and operations as a result of this redomicile, although procedural changes in governance documents are expected. Stockholders will receive common stock of Mag Mile Delaware in exchange for their shares of Mag Mile Oklahoma without any appraisal rights allowed. Rushi Shah, the CEO, holds 87% of the voting power, making a proxy solicitation unnecessary. The action is intended to improve legal predictability for investors and facilitate future capital raising efforts.

Form Type: PRE 14C

Filing Date: 2025-05-15

Corporate Action: Merger

Type: New

Accession Number: 000164117225010605

Filing Summary: Mag Mile Capital, Inc., an Oklahoma corporation, notified shareholders of its plan to change its domicile from Oklahoma to Delaware, which has been approved by holders of approximately 87% of the voting power through written consent as of April 22, 2025. This corporate action, named the Redomicile, aims to enhance corporate governance and legal predictability, leveraging Delaware's comprehensive corporate laws. The effective date of the Redomicile will be July 1, 2025, following a 20-day notice period for shareholders. A Certificate of Merger was filed with both the states of Oklahoma and Delaware on May 2 and May 5, 2025, respectively, confirming the merger of Mag Mile Capital, Inc. (Oklahoma) into Mag Mile Capital, Inc. (Delaware). Following this, shareholders of the Oklahoma entity will automatically receive shares of the Delaware corporation. This move will not affect the company's operations, management, or financial structure. The entire process aims to streamline future corporate operations and facilitate investment opportunities in line with Delaware law.

Form Type: 10-Q

Filing Date: 2025-05-13

Corporate Action: Merger

Type: Update

Accession Number: 000164117225009930

Filing Summary: Mag Mile Capital, Inc. underwent significant changes leading to a merger with Megamile Capital, Inc. d/b/a Mag Mile Capital on March 30, 2023. This merger resulted in a change of control and the issuance of additional common shares, with Mag Mile Capital's shareholders owning 88% of the total post-merger shares. The company, now focusing on commercial real estate mortgage banking, reported a net income of $9,714 for the quarter ending March 31, 2025, contrasting with a net loss of $65,776 in the same quarter of the previous year. The overall financial position showed total assets amounting to $850,134 compared to total liabilities of $1,006,998. The company intends to use the exercise of warrants for growth, indicating efforts to stabilize its financial situation and continue operations. Other ongoing financial strategies include commitments to manage operational expenses effectively and maintain sufficient cash flow to meet obligations.