secwatch.observer — SEC 8-K summary
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Issuer:     Glimpse Group, Inc. (GGRP)
CIK:        0001854445
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0001493152-22-020934
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glimpse closes acquisition of Brightline Interactive; adds ~$5M revenue, $15M combined run rate
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- Initial consideration: $568,046 cash + $5M in stock at $7.00/share; up to $12M cash + $12.5M stock in earnouts.
- Debt extinguished with $1,926,167 cash payment net of working capital adjustments.
- Combined annual revenue run rate ~$15M; over 200 immersive tech professionals; 10 patents.
- Tyler Gates appointed as Chief Futurist Officer and non-voting Board Observer; annual salary $215,000.
- BLI key customers include AT&T, Coca-Cola, FEMA, FAA, US Air Force, NIH; two new US patents.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854445/000149315222020934/0001493152-22-020934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854445/000149315222020934/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-020934

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