Agassi Sports Entertainment Corp. (AASP): debt financing — Agassi Sports enters $500K-$3.8M IBM cloud deal for AI tennis/pickleball app

Agassi Sports Entertainment Corp.

Minimum commitment: $500K non-refundable for year 1; $3.3M for years 2-5 cancellable by 12/31/2026.
IBM grants up to $250K in cloud credits for development and testing of the embedded solution.
App is AI-powered self-improvement platform for tennis, padel, and pickleball players using 'Agassi Intelligence' AI.
Initial term 1 year, auto-renew for 4 years unless cancelled by written notice before 12/31/2026.
Company must develop the App and provide Level 1 support; IBM provides cloud services and technical support.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.85

Agassi Sports Entertainment Corp. incurred debt of minimum payment commitments of $500,000 (First Commitment Period) and $3,300,000 (Second Commitment Period) with International Business Machines Corporation maturing First Commitment Period ends January 31, 2027; Second Commitment Period ends January 31, 2031.

Principal: minimum payment commitments of $500,000 (First Commitment Period) and $3,300,000 (Second Commitment Period)
Counterparty: International Business Machines Corporation
Maturity: First Commitment Period ends January 31, 2027; Second Commitment Period ends January 31, 2031
Event: incurrence

Exact text from the filing

(the “ Company, ” “ us, ” “ we, ” or “ our ”) and International Business Machines Corporation (“ IBM ”) entered into an Embedded Solution Agreement – IBM Cloud Enterprise Savings PLAN ESA Transaction Document (the “ Embedded Solution Agreement ”) and an Embedded Solution Agreement Attachment for Build Fund Cloud Credits (the “ Cloud Credits Attachment ”).

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Agassi Sports Entertainment Corp. filing history →

Source: SEC EDGAR

accession 0001472375-26-000012

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