---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-034095"
form_type: "8-K"
ticker: "YYAI"
cik: "0001674440"
company_name: "AIRWA INC."
filed_at: "2022-12-01T23:59:59+00:00"
generated_at: "2026-06-21T10:57:23.955126+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Connexa Sports sells PlaySight subsidiary to founders for $2M note, releases obligations

## Summary
- Sold 100% of PlaySight to founders Chen Shachar and Evgeni Khazanov.
- Consideration: release from ~$1.7M in vendor/employee obligations; waiver of $600k personal compensation; $2M promissory note.
- Note due Dec 31, 2023 (extendable to Dec 31, 2024); if unpaid, converts to PlaySight shares based on valuation.
- Parties to negotiate non-exclusive racquet sports analytics agreement within 3 months.
- Transaction eliminates need for Connexa to fund PlaySight operations further.

## SEC filing metadata
- accession: 0001493152-22-034095
- form_type: 8-K
- ticker: YYAI
- cik: 0001674440
- company_name: AIRWA INC.
- filed_at: 2022-12-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674440/000149315222034095/0001493152-22-034095-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674440/000149315222034095/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-034095
- JSON: https://secwatch.observer/filing/0001493152-22-034095.json
- Plain text: https://secwatch.observer/filing/0001493152-22-034095.txt

## Key facts
- M&A Transactions
  AIRWA INC. completed a disposition involving PlaySight Interactive Ltd., Chen Shachar and Evgeni Khazanov for cash consideration of U.S. $2 million (closed 2022-11-27).
  - Action: disposition
  - Counterparty: PlaySight Interactive Ltd., Chen Shachar and Evgeni Khazanov
  - Consideration: cash consideration of U.S. $2 million
  - Closing: 2022-11-27
  source text: under their employment agreements in the total amount of U.S. $600,000 (which would have been increased in December 2022 to U.S. $800,000); and (3) cash consideration of U.S. $2 million to be paid to the Company as follows: (i) a promissory note in the amount of U.S. $2 million issued and delivered to the Company (the “Promissory Note”). (ii) The maturity due
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674440/000149315222034095/0001493152-22-034095-index.htm
- Material Agreements
  AIRWA INC. entered into Share Purchase Agreement with PlaySight Interactive Ltd., Chen Shachar and Evgeni Khazanov valued at Release of PlaySight's obligations, waiver of $600,000 in personal consideration, and $2,000,000 pro (effective 2022-11-27).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: PlaySight Interactive Ltd., Chen Shachar and Evgeni Khazanov
  - Value: Release of PlaySight's obligations, waiver of $600,000 in personal consideration, and $2,000,000 pro
  - Effective: 2022-11-27
  source text: On November 27, 2022, Connexa Sports Technologies Inc. (the “Company”) entered into a share purchase agreement (the “Agreement”) with PlaySight Interactive Ltd. (“PlaySight”), Chen Shachar and Evgeni Khazanov (together, the “Buyer”) pursuant to which the Buyer purchased 100% of the issued and outstanding shares of PlaySight from the Company in exchange for (1) releasing the Company from all of PlaySight’s obligations towards its vendors, employees, tax authorities and any other (past, current and future) creditors of PlaySight; (2) waiver by the Buyer of 100% of the personal consideration owed to them under their employment agreements in the total amount of U.S. $600,000 (which would have been increased in December 2022 to U.S. $800,000); and (3) cash consideration of U.S. $2 million to be paid to the Company as follows: (i) a promissory note in the amount of U.S. $2 million issued and delivered to the Company (the “Promissory Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674440/000149315222034095/0001493152-22-034095-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.