secwatch.observer — SEC 8-K summary
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Issuer:     GLOBAL TECHNOLOGIES LTD (GTLL)
CIK:        0000932021
Form:       8-K
Filed at:   2022-03-10T23:59:59+00:00
Accession:  0001493152-22-006515
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GTLL to acquire Tersus Power in share exchange for 75% of post-closing stock
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- GTLL enters Share Exchange Agreement to acquire Tersus Power; Tersus shareholders receive 75% of GTLL's outstanding shares post-closing.
- Closing conditions include name change to "Tersus Power, Inc." and a reverse stock split in range 1:1,000 to 1:4,000.
- All Series K and L preferred stock must convert to Class A common before closing.
- Tersus shareholders will appoint nominees to GTLL's board; deal may terminate if not closed by June 30, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932021/000149315222006515/0001493152-22-006515-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932021/000149315222006515/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-006515

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