{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-21-022275","form_type":"8-K","ticker":"BWMG","cik":"0001166708","company_name":"Brownie's Marine Group, Inc","filed_at":"2021-09-09T23:59:59+00:00","discovered_at":"2026-05-14T18:04:17.346572+00:00","generated_at":"2026-06-29T04:45:03.527974+00:00","sec_items":["1.01","2.01","2.03","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Brownie's Marine acquires Submersible Systems for $1.75M in stock and convertible notes","bullets":["Total purchase price of $1,750,000 paid with $350,000 in 8% convertible notes and 27,305,442 shares of common stock (~$0.05127/share).","Submersible Systems (Spare Air brand) had 2019 revenue of ~$1.8M; 2020 revenue reduced to ~$1.4M due to COVID.","Leak-out restriction on merger shares: 12.5% after 6 months, 25% after 9 months, 75% after 24 months, 100% after 36 months.","Acquisition expected to expand BWMG's product portfolio and U.S. government contractor footprint.","Financial statements of the acquired business to be filed within 71 days of this 8-K."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-21-022275","json":"https://secwatch.observer/filing/0001493152-21-022275.json","markdown":"https://secwatch.observer/filing/0001493152-21-022275.md","text":"https://secwatch.observer/filing/0001493152-21-022275.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1166708/000149315221022275/0001493152-21-022275-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1166708/000149315221022275/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-29T04:45:03.527974+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}