Authorized shares increased, not outstanding shares. There is a big difference.
On February 27, 2019, MGT Capital Investments, Inc. (the “Company”) filed with the Secretary of State of the State of Delaware a Certificate of Amendment (the “Certificate of Amendment”) to its Restated Certificate of Incorporation, increasing the number of authorized shares of common stock of the Company from 125,000,000 shares to 2,500,000,000 shares, as discussed under Item 5.07 below. A copy of the Certificate of Amendment is attached hereto as Exhibit 3.1 and incorporated by reference herein. The Company’s stockholders approved the Certificate of Amendment at a special meeting of the stockholders on February 27, 2019 (the “Special Meeting”), as more specifically described under Item 5.07 below.