secwatch.observer — SEC 8-K summary
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Issuer:     Glimpse Group, Inc. (GGRP)
CIK:        0001854445
Form:       8-K
Filed at:   2026-07-07T12:45:42+00:00
Accession:  0001493152-26-032261
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glimpse Group sells Glimpse Learning to entity controlled by former CEO Lyron Bentovim for equity and royalties
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- Purchase price: 1,999,999 shares of buyer (19.99% equity) plus royalty payments capped at $1.2M.
- Royalty: 7% of buyer revenue July–Dec 2027, then 10% from Jan 2028; buyer can buy out for $1M on Dec 30, 2027.
- Lyron Bentovim, former CEO and ~5% owner of Glimpse, owns 50.6% of buyer; $200K working capital paid at closing.
- Pro forma shows Glimpse Learning contributed $890K revenue in 9 months ended Mar 2026; divestiture loss of $37,554.
- Company refocuses on Physical AI via Brightline Interactive and SpatialCore platform, used by US Navy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854445/000149315226032261/0001493152-26-032261-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854445/000149315226032261/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-032261

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