secwatch.observer — SEC 8-K summary
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Issuer:     TAP REAL ESTATE TECHNOLOGIES, INC. (RWAX)
CIK:        0001119190
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001493152-24-008273
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1119190/000149315224008273/0001493152-24-008273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1119190/000149315224008273/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-008273

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