Global Blockchain Acquisition Corp.: M&A transaction — Global Blockchain terminates Fourcore merger; Fourcore takes 79.2% control via $44M note; shareholders extend deadline

Global Blockchain Acquisition Corp.

Fourcore terminated the merger agreement on Nov 11, 2024; no new business combination announced.
On Nov 13, Fourcore purchased 4,312,500 shares and 6,812,500 warrants from sponsor, obtaining 79.2% of common stock.
Consideration: Fourcore issued promissory notes with aggregate face value of $44,000,000.
Stockholders approved extending the business combination deadline from Nov 12, 2024 to up to Aug 12, 2025 via monthly extensions.
61,086 shares redeemed; 5,447,267 shares outstanding after the vote.

item 1.02 item 5.01 item 5.03 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Global Blockchain Acquisition Corp. underwent a change of control involving Fourcore for promissory notes with an aggregate face value of $44,000,000 (closed 2024-11-13).

Action: change of control
Counterparty: Fourcore
Consideration: promissory notes with an aggregate face value of $44,000,000
Closing: 2024-11-13

Exact text from the filing

of the Company’s common stock. In consideration for the Securities purchased pursuant to the Purchase Agreement, Fourcore issued promissory notes with an aggregate face value of $44,000,000. Concurrent with the execution of the Purchase Agreement, Fourcore executed a joinder agreement to become a party to that certain letter agreement, dated May 9, 2022, originally

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Source: SEC EDGAR

accession 0001213900-24-099113

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