8-K
filed April 28, 2023, 7:59 PM ET
ticker AHRO
CIK 0001338929
M&A
confidence medium
sentiment neutral
materiality 0.60
Authentic Holdings, Inc. (AHRO): M&A transaction — Authentic Holdings acquires Maybacks Global Entertainment, issues 100K Series C Preferred shares
Authentic Holdings, Inc.
- Acquired Maybacks Global Entertainment LLC, an OTA and platform TV network with 25 channels, as wholly-owned subsidiary.
- Purchase price: 100,000 shares of newly created Series C Preferred Stock, convertible into common stock upon milestones.
- Series C conversion triggers: 2-year anniversary (25%), 40 channels (50%), first $250K net ad revenue (2.5%), subsequent $250K increments (2.5% each).
- Maybacks generates revenue through ad placements, revenue share, channel access fees; has agreements with Local Now and others.
- Risk: competes with larger firms like DISH's Sling TV, lacking financial resources.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.95
Authentic Holdings, Inc.: Board of Directors created Series C Preferred Stock, filed Certificate of Designation with Nevada Secretary of State (effective 2023-04-27).
- Change
- charter amendment
- Effective
- 2023-04-27
Exact text from the filing
On April 26, 2023, our Board of Directors created, out of our available shares of preferred stock, par value $0.001 per share, a series of preferred stock known as "Series C Preferred Stock" consisting of 100,000 shares.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.7
Authentic Holdings, Inc. completed an acquisition involving Maybacks Global Entertainment LLC (closed 2023-04-26).
- Action
- acquisition
- Counterparty
- Maybacks Global Entertainment LLC
- Closing
- 2023-04-26
Exact text from the filing
On April 26, 2023, Authentic Holdings, Inc. (the “Company”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Maybacks Global Entertainment LLC, an Arizona limited liability company (“Maybacks”), and the members of Maybacks. As a result of the transaction, Maybacks became a wholly-owned subsidiary of the Company.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Authentic Holdings, Inc. entered into Membership Interest Purchase Agreement with Maybacks Global Entertainment LLC (effective 2023-04-26).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Maybacks Global Entertainment LLC
- Effective
- 2023-04-26
Exact text from the filing
On April 26, 2023, Authentic Holdings, Inc. (the “Company”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Maybacks Global Entertainment LLC, an Arizona limited liability company (“Maybacks”), and the members of Maybacks.
View on SEC.gov
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