HUMBL sells HUMBL Financial assets to Avrio for 10% equity stake and revenue share

TAP REAL ESTATE TECHNOLOGIES, INC.

Sold assets include BLOCK Indexes and BLOCK ETXs; received 1,920,000 Avrio Class A shares (10% stake).
Consideration valued at $5M; also 2.5% net revenue share on sold assets for up to 5 years or until Avrio IPO.
CEO Brian Foote gets a board seat at Avrio as part of the agreement.
Revenue share terminates upon earlier of five years or Avrio's initial public offering.
Avrio is a digital market infrastructure provider with ATS, public, private, and digital market technology.

item 1.01 item 9.01

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

TAP REAL ESTATE TECHNOLOGIES, INC. entered into Purchase Agreement with Avrio Worldwide, PBC (effective 2024-02-23).

Action: entry
Agreement: asset purchase
Counterparty: Avrio Worldwide, PBC
Effective: 2024-02-23

Exact text from the filing

On February 23, 2024, HUMBL, Inc. (“HUMBL”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Avrio Worldwide, PBC (“Avrio”).

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

TAP REAL ESTATE TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-008273

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