Webstar Technology Group Inc. Reports Change in Control and Executive Changes
Ticker: WBSR · Form: 8-K · Filed: Jun 26, 2024 · CIK: 1645155
| Field | Detail |
|---|---|
| Company | Webstar Technology Group Inc. (WBSR) |
| Form Type | 8-K |
| Filed Date | Jun 26, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 9 min |
| Key Dollar Amounts | $3,237,660 |
| Sentiment | neutral |
Sentiment: neutral
Topics: change-in-control, executive-changes, board-changes
Related Tickers: WSTG
TL;DR
Webstar Tech (WSTG) is changing hands, with new execs and board members coming in.
AI Summary
Webstar Technology Group Inc. announced on June 24, 2024, a material definitive agreement related to a change in control of the company. The filing also details the departure of directors or certain officers, the election of new directors, and the appointment of new officers, along with compensatory arrangements for certain officers.
Why It Matters
This filing indicates a significant shift in the company's leadership and ownership structure, which could impact its strategic direction and operational focus.
Risk Assessment
Risk Level: medium — Changes in control and executive departures often introduce uncertainty and potential strategic shifts, which can carry inherent risks.
Key Players & Entities
- Webstar Technology Group Inc. (company) — Registrant
- June 24, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement that led to the change in control?
The filing does not specify the exact terms of the material definitive agreement but states it resulted in a change in control of the registrant.
Who are the departing directors or officers?
The filing indicates departures but does not name the specific individuals involved.
Who are the newly elected directors or appointed officers?
The filing mentions the election and appointment of new personnel but does not provide their names.
What are the details of the compensatory arrangements for the new officers?
The filing notes that compensatory arrangements are part of the report but does not provide specific details within the provided text.
When was the change in control officially effective?
The date of the change in control is reported as June 24, 2024.
Filing Stats: 2,291 words · 9 min read · ~8 pages · Grade level 13.1 · Accepted 2024-06-26 08:34:21
Key Financial Figures
- $3,237,660 — ciated debt. The transaction eliminates $3,237,660 in debt. 3) One June 24, 2024 the Co
Filing Documents
- form8-k.htm (8-K) — 69KB
- 0001493152-24-025207.txt ( ) — 244KB
- wbsr-20240624.xsd (EX-101.SCH) — 3KB
- wbsr-20240624_lab.xml (EX-101.LAB) — 33KB
- wbsr-20240624_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
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. Webstar Technology Group, Inc. Dated: June 26, 2024 By: /s/ Ricardo Haynes Name: Ricardo Haynes Title: Chief Executive Officer and President 5