secwatch.observer — SEC 8-K summary
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Issuer:     Tego Cyber, Inc. (TGCB)
CIK:        0001815632
Form:       8-K
Filed at:   2024-12-26T23:59:59+00:00
Accession:  0001654954-24-015882
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tego Cyber acquires CloudCover patents for 11M shares + 3M Series B Preferred; includes break-up fee options
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- Purchased two US patents: No. 8,832,833 and 10,326,777 (Integrated Data Traffic Monitoring System).
- Consideration: 11,000,000 restricted common shares and 3,000,000 Series B Preferred shares ($5 face value).
- T2 transaction to acquire substantially all CloudCover assets must close within 180 days, else buyer may unwind.
- Break-up fee up to $9M if buyer unwinds after accessing proprietary cyber insurance and zero-day detection systems.
- Patent monetization triggers termination of unwind right; right of first refusal on remaining CloudCover IP.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1815632/000165495424015882/0001654954-24-015882-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1815632/000165495424015882/tego_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-015882

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