8-K
filed September 18, 2023, 7:59 PM ET
ticker GLAI
CIK 0001473490
other material
confidence high
sentiment neutral
materiality 0.90
Global AI, Inc. (GLAI): M&A transaction — Ingenious Investment AG acquires 92.7% of Wall Street Media; CEO replaced
Global AI, Inc.
- Ingenious Investment AG bought 24,944,466 shares (92.7% of outstanding) from existing shareholders in private transactions.
- Note Exchange Agreement with Landmark Pegasus: 856,000 shares issued upfront, additional shares possible.
- CEO Jeffrey Lubchansky removed; Sebastian Holl named interim CEO and Board member.
- Andrej Rucigaj and Nevenka Crešnar Pergar appointed to the Board.
- No arrangements among control groups regarding director elections or other matters.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Nevenka Crešnar Pergar was named as member of the Board at Global AI, Inc..
- Action
- named
- Role
- member of the Board
Exact text from the filing
Andrej Rucigaj and Nevenka Crešnar Pergar were also named as members of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrej Rucigaj was named as member of the Board at Global AI, Inc..
- Action
- named
- Role
- member of the Board
Exact text from the filing
Andrej Rucigaj and Nevenka Crešnar Pergar were also named as members of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sebastian Holl was named as Interim Chief Executive Officer and member of the Board at Global AI, Inc..
- Action
- named
- Role
- Interim Chief Executive Officer and member of the Board
Exact text from the filing
Sebastian Holl is named as the interim Chief Executive Officer and member of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey Lubchansky was removed as Chief Executive Officer and sole member of the Board at Global AI, Inc..
- Action
- removed
- Role
- Chief Executive Officer and sole member of the Board
Exact text from the filing
Jeffrey Lubchansky was removed immediately as Chief Executive Officer of the Company and sole member of the Company Board of Directors (the “Board”).
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Global AI, Inc. underwent a change of control involving Ingenious Investment AG (closed 2023-09-12).
- Action
- change of control
- Counterparty
- Ingenious Investment AG
- Closing
- 2023-09-12
Exact text from the filing
On September 12, 2023, Ingenious Investment AG purchased, from their own funds, from existing shareholders of the Company, in a series of private transactions, a total of 24,944,466 shares of common stock, $0.001 per share (the “Common Stock”) of Wall Street Media Co, Inc. (the “Company”), representing 92.7% of the outstanding shares of Common Stock (the “Transaction”).
View on SEC.gov
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