Stemtech Corp Enters Material Definitive Agreement
Ticker: STEK · Form: 8-K · Filed: Dec 3, 2024 · CIK: 1511820
| Field | Detail |
|---|---|
| Company | Stemtech Corp (STEK) |
| Form Type | 8-K |
| Filed Date | Dec 3, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $32.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
Stemtech Corp just signed a big deal. 🤝
AI Summary
Stemtech Corporation entered into a Material Definitive Agreement on December 2, 2024. The company, formerly known as Globe Net Wireless Corp. until February 1, 2011, is headquartered in Naples, Florida, and operates in the wholesale drug proprietaries and druggists' sundries sector.
Why It Matters
This filing indicates a significant new contract or partnership for Stemtech Corporation, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities, the specifics of which are not detailed in this initial filing.
Key Players & Entities
- Stemtech Corporation (company) — Registrant
- December 2, 2024 (date) — Date of earliest event reported
- Globe Net Wireless Corp. (company) — Former company name
- February 1, 2011 (date) — Date of name change
- Naples, FL (location) — Principal executive offices location
FAQ
What is the nature of the Material Definitive Agreement entered into by Stemtech Corporation?
The filing does not specify the nature of the Material Definitive Agreement, only that one was entered into on December 2, 2024.
When was Stemtech Corporation's name changed from Globe Net Wireless Corp.?
Stemtech Corporation's name was changed from Globe Net Wireless Corp. on February 1, 2011.
Where are Stemtech Corporation's principal executive offices located?
Stemtech Corporation's principal executive offices are located at 4851 Tamiami Trail North, Suite 200, Naples, FL 34103.
What is Stemtech Corporation's IRS Employer Identification Number?
Stemtech Corporation's IRS Employer Identification Number is 87-2151440.
What is Stemtech Corporation's Standard Industrial Classification code?
Stemtech Corporation's Standard Industrial Classification code is 5122, for Wholesale-Drugs Proprietaries & Druggists' Sundries.
Filing Stats: 396 words · 2 min read · ~1 pages · Grade level 13.3 · Accepted 2024-12-03 16:22:35
Key Financial Figures
- $32.5 million — ch valued the acquisition of Seacret at $32.5 million dollars and issued this value of its sh
Filing Documents
- stemtech_8k.htm (8-K) — 32KB
- 0001683168-24-008491.txt ( ) — 199KB
- stek-20241202_pre.xml (EX-101.PRE) — 24KB
- stek-20241202_lab.xml (EX-101.LAB) — 33KB
- stek-20241202.xsd (EX-101.SCH) — 3KB
- stemtech_8k_htm.xml (XML) — 3KB
01
Item 1.01 Entry into a Material Definitive Agreement On December 2 nd , 2024 Stemtech (the Company) executed a Merger Agreement with Seacret Direct/Viago by which Seacret/Viago shall be merged into Stemtech. Stemtech valued the acquisition of Seacret at $32.5 million dollars and issued this value of its shares as consideration. The two companies are in a similar health space, and their combined value is seen as a benefit to both as well as shareholders. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 2, 2024 Stemtech Corporation By: /s/ Charles Arnold Charles Arnold, CEO 3