secwatch.observer — SEC 8-K summary
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Issuer:     Samsara Luggage, Inc. (—)
CIK:        0001530163
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001213900-24-017245
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Samsara Luggage acquires seven emergency-response companies from majority owner for Series B shares
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- Acquired Firebug, Georgia Fire, BCD Fire, Bull Head, E-Raptor, TVC, and ASSS from ILUS (71.1% owner pre-deal).
- Consideration: 350,000 restricted Series B shares (convertible to 350M common) plus milestone payments up to $10M based on revenue targets.
- ILUS ownership increases to 89.1% of voting rights post-transaction; transaction is related-party without customary reps/warranties.
- Targets: $20M revenue by end of 2024 and $32M by end of 2025 trigger additional milestone payments.
- Financial statements of acquired companies will be filed within 71 days via amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1530163/000121390024017245/0001213900-24-017245-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1530163/000121390024017245/ea0200601-8k_samsara.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-017245

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer