M&A - GLOBAL ACQUISITIONS Corp

Form Type: 8-K

Filing Date: 2025-06-04

Corporate Action: Acquisition

Type: New

Accession Number: 000147237525000058

Filing Summary: On May 31, 2025, Agassi Sports Entertainment Corp. entered into a Trademark Acquisition Agreement to acquire the rights to the trademark 'World Series of Pickleball' from Patrick J. Rolfes and Ted Angelo. The company paid $25,000 in cash and issued warrants for 50,000 shares of its common stock, split between the sellers. The warrants have an exercise price of $5.75 and can be exercised within three years, but are limited to 4.999% beneficial ownership unless increased with prior notice. Additionally, VIP tickets to the events will be provided to the sellers during their lifetimes as part of the agreement. This acquisition marks the company's transition from a shell company to a startup/development stage company with a focus on becoming a leader in the sports entertainment industry, particularly in the growing pickleball and padel markets. The document further integrates information on securities sales, changes in management, and the company's operational plans, which include acquiring and hosting sports events and developing branded content.