secwatch.observer — SEC 8-K summary
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Issuer:     GBT Technologies Inc. (GTCH)
CIK:        0001471781
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001731122-23-001451
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1471781/000173112223001451/0001731122-23-001451-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1471781/000173112223001451/e4930_8k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-23-001451

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