secwatch.observer — SEC 8-K summary
======================================

Issuer:     GBT Technologies Inc. (GTCH)
CIK:        0001471781
Form:       8-K
Filed at:   2024-03-22T23:59:59+00:00
Accession:  0001731122-24-000474
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GBT Technologies' subsidiary sells patents to VisionWave for $30M in stock; prior Bannix deal terminated
--------------------------------------------------------------------------------

- GBT Tokenize (50% owned by GBT) enters Patent Purchase Agreement with VisionWave for IP covering machine learning radio wave imaging ("Apollo" project).
- Purchase price of $30M paid in 1,000 shares of VisionWave common stock, representing 50% of VisionWave's outstanding shares.
- Final price subject to third-party valuation; if valuation <$30M, Tokenize has option to cancel the agreement.
- Shares subject to 12-month lock-up period beginning at closing.
- Prior $30M PPA with Bannix Acquisition Corp. terminated after Bannix's business combination with EVIE fell through on March 11, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1471781/000173112224000474/0001731122-24-000474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1471781/000173112224000474/e5523_8k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-24-000474

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