secwatch.observer — SEC 8-K summary
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Issuer:     Meridian Holdings Inc./NV (MRDN)
CIK:        0001437925
Form:       8-K
Filed at:   2024-08-20T23:59:59+00:00
Accession:  0001477932-24-005151
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Golden Matrix to acquire 80% of Classics for a Cause for ~$8.4M total consideration
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- Acquisition price ~$8.4M (incl. earnout); 70% cash, 30% restricted GMGI shares.
- CFAC generated $10M+ revenue and $1.9M+ operating profit before tax in FY2024.
- CFAC has 300K+ customers, 10K+ active monthly subscribers; recurring subs >30% of revenue.
- Founder Thomas Bailey to remain as executive; GMGI gets call option on remaining 20%.
- Transaction expected to close within days; effective date Aug 1, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437925/000147793224005151/0001477932-24-005151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437925/000147793224005151/gmgi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-005151

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