Hawkeye Systems Strengthens Balance Sheet with $5 Million Equity Addition as Investment Group Led by David Wachsman and Martin Sumichrast Increases Controlling Stake in HWKE to 90%
Hawkeye Systems Inc. (“Hawkeyeˮ or the “Companyˮ) (OTC: HWKE) (“Hawkeye”), a technology holding company, today announced a substantial capital restructuring and strategic expansion, adding $5 million in equity to its balance sheet. This capital milestone was achieved through a $2.3 million cash infusion for working capital alongside the conversion of $2.7 million in debt to equity by its majority stakeholder, Hawkeye Holdco, LLC, a private holding company led by Hawkeye Systems President David Wachsman and Chairman Martin Sumichrast. Following this transaction, Hawkeye Holdco, LLC has an approximate 90% ownership stake in the company on a fully diluted basis.
Hawkeye Systems Announces New Board Members With Deep Capital Markets, Governance, Legal, and Merchant Banking Experience
Hawkeye Systems Inc. (OTC: HWKE) (“Hawkeye” or the “Company”) today announced that Martin Sumichrast has been appointed Chairman of the Board following the required waiting period under the Company’s recently filed Schedule 14F-1 Information Statement. Mr. Sumichrast is joined by Sim Farar, Brad Fleisher, and Ralph Olson as fellow new members of the Board of Directors. Former Chairman & CEO Corby Marshall will remain a member of the Board. These appointments follow the appointment of David Wachsman as President of Hawkeye and mark an important next step in Hawkeye’s transformation into a private equity and merchant banking platform focused initially on crypto and blockchain technologies as well as cybersecurity, with planned expansion into other high-growth verticals in financial services and advanced technology.
