8-K
filed July 17, 2023, 7:59 PM ET
CIK 0001851048
M&A
confidence high
sentiment neutral
materiality 0.95
Cyber App Solutions Corp.: M&A transaction — Cyber App Solutions completes reverse acquisition of Proton Green; change of control and CEO
Cyber App Solutions Corp.
- Issued ~68M shares (94.4% of post-transaction shares) to acquire Proton Green, a helium/CO2/carbon storage developer.
- Proton Green holds 152,000 acres in Arizona; verified 9 Tcf CO2 and 30 Bcf helium reserves.
- Steven Looper appointed CEO, President, and Director, replacing Evgenii Pak who resigned.
- Authorized shares increased from 75M to 250M; company address moved from South Korea to Houston, TX.
- First helium processing facility started July 2023; 500 ton/day beverage-grade CO2 facility expected Q1 2024.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.9
Steven Looper was appointed as Chief Executive Officer, President, Director at Cyber App Solutions Corp..
- Action
- appointed
- Role
- Chief Executive Officer, President, Director
Exact text from the filing
The business background descriptions of the newly appointed officer and director is as follows: Steven Looper
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Cyber App Solutions Corp.: Increased authorized shares of common stock from 75,000,000 to 250,000,000 (effective 2023-07-13).
- Change
- charter amendment
- Effective
- 2023-07-13
Exact text from the filing
Effective July 13, 2023, the Company filed a Certificate of Amendment to its Amended Articles of Incorporation (the “Articles of Amendment”) with the Secretary of State of the State of Nevada effecting an increase in the authorized shares of common stock from 75,000,000 to 250,000,000 (the “Corporate Action”).
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.95
Cyber App Solutions Corp. completed an acquisition involving Proton Green, LLC and its members for issuance of approximately 68 million shares of common stock, representing approximately 94.4% of the issued and outstanding shares of common stock of the Compan (closed 2023-07-17).
- Action
- acquisition
- Counterparty
- Proton Green, LLC and its members
- Consideration
- issuance of approximately 68 million shares of common stock, representing approximately 94.4% of the issued and outstanding shares of common stock of the Compan
- Closing
- 2023-07-17
Exact text from the filing
interests of Proton Green held by the Proton Green Members for shares of common stock of the Company. At the Closing Date, the Company issued approximately sixty-eight million (68,000,000) newly issued shares s of common stock to the Proton Green Members, representing approximately 94.4% of the issued and outstanding shares of common stock of the Company following
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Cyber App Solutions Corp. entered into Share Exchange Agreement with Proton Green, LLC and the members of Proton Green (effective 2023-07-17).
- Action
- entry
- Agreement
- merger
- Counterparty
- Proton Green, LLC and the members of Proton Green
- Effective
- 2023-07-17
Exact text from the filing
Effective July 17, 2023 (the “Closing Date”), Cyber App Solutions Corp. (the “Company”) entered into that certain Share Exchange Agreement (the “Share Exchange Agreement”) by and among the Company, Proton Green, LLC, a Wyoming limited liability company (“Proton Green”) and the members of Proton Green (the “Proton Green Members”).
View on SEC.gov
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