GBT Tech patents sale to Bannix valued at up to $42.5M in Series A Preferred

GBT Technologies Inc.

Sale of Apollo and other patents for $42.5M in Series A Preferred stock (5% of Bannix's $850M EVIE acquisition).
Closing contingent on Bannix's EVIE deal; Tokenize (50% owned by GBT) can cancel if final price < $30M.
Series A Preferred has $1,000 face, convertible at VWAP discount (min $1), 4.99% ownership cap, 6-month lock-up.
GBT Technologies provided consent; Tokenize is 50% owned by GBT.

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

GBT Technologies Inc. entered into Patent Purchase Agreement with Bannix Acquisition Corp. valued at $42,500,000 in series A preferred stock (effective 2023-08-08).

Action: entry
Agreement: asset purchase
Counterparty: Bannix Acquisition Corp.
Value: $42,500,000 in series A preferred stock
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Bannix entered into a Patent Purchase Agreement (“PPA”) with GBT Tokenize Corp. (“Tokenize”), which is 50% owned by GBT, where GBT provided its consent, to acquire the entire right, title, and interest of the Patents.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GBT Technologies Inc. entered into Business Combination Agreement with Bannix Acquisition Corp., EVIE Autonomous Group Ltd. valued at $850,000,000 consideration (effective 2023-04-17).

Action: entry
Agreement: merger
Counterparty: Bannix Acquisition Corp., EVIE Autonomous Group Ltd.
Value: $850,000,000 consideration
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, Bannix Acquisition Corp. (“Bannix”), EVIE Autonomous Group Ltd. (“EVIE”) and EVIE’s shareholders entered into a Business Combination Agreement pursuant to which Bannix agreed to acquire EVIE.

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GBT Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001731122-23-001451

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