Global Interactive Technologies, Inc. 8-K

What Happened

• Global Interactive Technologies, Inc. (GITS) filed an 8-K on March 30, 2026 announcing an Equity Purchase Agreement with Hudson Global Ventures, LLC. Under the agreement the company may sell up to $18,000,000 of common stock to the investor over a term of up to 24 months, by delivering “Put Notices” to draw funds from the facility. The per-share purchase price is set by a formula at approximately 93% of the applicable market price and the company issued initial commitment shares to the investor as consideration.

Key Details

• Commitment: Up to $18,000,000 available to GITS, subject to the company’s election to sell shares.
• Pricing & Limits: Purchase price ~93% of market price; each drawdown has minimum/maximum amounts tied to trading volume and agreement limits.
• Term & Ownership Cap: Agreement term up to 24 months; investor’s beneficial ownership capped at 4.99% of outstanding common stock.
• Registration & Restrictions: GITS must file a resale registration statement within 60 days of signing; company agreed not to enter certain other variable-rate or equity line financings without investor consent.

Why It Matters

• The facility gives GITS flexible, on-demand access to capital without an immediate large debt raise, but sales would dilute existing shareholders since shares could be issued at a discount (~7% below market). The resale registration requirement affects when the investor can sell purchased shares in the market. Management says it will use the facility selectively based on market conditions and capital needs, and may still pursue other financing options.