---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-23-002262"
form_type: "8-K"
ticker: "GTCH"
cik: "0001471781"
company_name: "GBT Technologies Inc."
filed_at: "2023-12-19T23:59:59+00:00"
generated_at: "2026-06-07T10:28:28.560201+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# GBT Technologies' affiliate amends patent sale agreement to cap conversion shares at 19.99%

## Summary
- Amendment to Patent Purchase Agreement adds Section 2.4: conversion of Series A Preferred Stock cannot exceed 19.99% of post-closing outstanding common stock without Bannix shareholder approval.
- Series A Preferred Stock has $1,000 stated value, convertible at 5% discount to 20-day VWAP (min $1.00), with 4.99% beneficial ownership limitation.
- Original PPA valued at $42.5M for patents covering machine learning-driven radio wave imaging technology; closing contingent on Bannix's acquisition of EVIE Autonomous Group.
- Lock-up on Series A Preferred and conversion shares: six months after closing, change of control, or Bannix written consent.
- GBT Tokenize Corp. (50% owned by GBT Technologies) is the seller; Bannix Acquisition Corp. is the purchaser.

## SEC filing metadata
- accession: 0001731122-23-002262
- form_type: 8-K
- ticker: GTCH
- cik: 0001471781
- company_name: GBT Technologies Inc.
- filed_at: 2023-12-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1471781/000173112223002262/0001731122-23-002262-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1471781/000173112223002262/e5282_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-23-002262
- JSON: https://secwatch.observer/filing/0001731122-23-002262.json
- Plain text: https://secwatch.observer/filing/0001731122-23-002262.txt

## Key facts
- Material Agreements
  GBT Technologies Inc. entered into Patent Purchase Agreement with Bannix Acquisition Corp. and GBT Tokenize Corp. valued at $42.5 million (effective 2023-08-08).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Bannix Acquisition Corp. and GBT Tokenize Corp.
  - Value: $42.5 million
  - Effective: 2023-08-08
  source text: On August 8, 2023, Bannix Acquisition Corp. (“Bannix”) entered into a Patent Purchase Agreement (“PPA”) with GBT Tokenize Corp.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1471781/000173112223002262/0001731122-23-002262-index.htm
- Material Agreements
  GBT Technologies Inc. amended Amendment No. 1 to the PPA with Bannix Acquisition Corp. and GBT Tokenize Corp. (effective 2023-12-18).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Bannix Acquisition Corp. and GBT Tokenize Corp.
  - Effective: 2023-12-18
  source text: nd Tokenize entered into Amendment No. 1 to the PPA. Per the amendment, Bannix and Tokenize agreed that the shares of common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1471781/000173112223002262/0001731122-23-002262-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.