Global Technologies to acquire Fox Trot Tango for $6.5M in cash and stock

GLOBAL TECHNOLOGIES LTD

Purchase price includes assumption of $1.5M note, $1.6M convertible secured note, and 680 Series L Preferred shares valued at $3.4M.
Target owns ~25 acres of land and a 250,000 sq ft warehouse in Sylvester, GA.
Closing expected within 60 days after satisfaction of conditions; $15,000 cash deposit paid at signing.
Seller has right to reclaim membership units if Buyer defaults on payment obligations.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GLOBAL TECHNOLOGIES LTD entered into Membership Interest Purchase Agreement with TXC Services, LLC valued at $6,500,000 (effective 2023-06-13).

Action: entry
Agreement: asset purchase
Counterparty: TXC Services, LLC
Value: $6,500,000
Effective: 2023-06-13

Exact text from the filing

On June 13, 2023, the Company (the “Buyer”) and TXC Services, LLC (the “Seller”) (together, the “Parties”) entered into a Membership Interest Purchase Agreement (the “MIPA”) for the purchase of all 2,500,000 issued and outstanding Membership Units (the “Membership Units”) of Fox Trot Tango, LLC (“FTT”), a Delaware limited liability company. The purchase price for the purchase of all Membership Units shall be $6,500,000 payable from the Buyer to the Seller as follows:

View on SEC.gov

283 material agreements filed in the last 30 days. Browse all material agreements →

GLOBAL TECHNOLOGIES LTD filing history →

Source: SEC EDGAR

accession 0001493152-23-021780

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.