SCHEDULE 13D/A: Agassi Sports Entertainment Corp. Insider James M. Askew Discloses 18.8% Beneficial Ownership Through Warrants

James M. Askew, a Board Director of Agassi Sports Entertainment Corp., has filed an amended Schedule 13D, revealing a beneficial ownership of 18.8% of the company's common stock, primarily through warrants granted for services.

Summary

• This document is Amendment No. 1 to a Schedule 13D filed by James M. Askew, replacing the original filing from July 5, 2024.
• The filing pertains to the Common Stock ($0.001 par value per share) of Agassi Sports Entertainment Corp., formerly Global Acquisitions Corporation.
• James M. Askew beneficially owns 2,269,703 shares of Common Stock, representing 18.8% of the class.
• This ownership primarily stems from warrants to purchase 2,269,583 shares at an exercise price of $0.397 per share, granted on July 3, 2024, with a term through July 3, 2029.
• The warrants were fully earned upon issuance in connection with a Consulting Agreement for services rendered.
• A portion of the warrants, specifically 1,134,791 shares, cannot be exercised until July 3, 2025.
• Prior to the warrant grant, Mr. Askew held 120 shares of the Issuer's common stock.
• The percentage ownership is calculated based on 9,785,056 shares of common stock outstanding as of March 19, 2025.
• Mr. Askew is an entrepreneur, investor, and serves as Chairman and CEO of Data Gumbo Intelligent Systems, Inc., Sustain Capital Partners, LLC, and Sustain Intelligent Data, LLC, in addition to being a Board Director of Agassi Sports Entertainment Corp.
• The securities were acquired for investment purposes, and Mr. Askew may adjust his holdings in the future based on market conditions.

Sentiment

Score: 7

Explanation: The filing indicates a significant and continued investment by a key insider and board member, James M. Askew, through a substantial warrant grant. This suggests confidence in the company's future and strong alignment of interests. However, the document is purely an ownership disclosure and does not contain financial performance data or strategic updates that would significantly alter a sentiment score beyond this positive insider signal.

Positives

• A significant insider, James M. Askew, who is also a Board Director, holds a substantial 18.8% beneficial ownership, indicating strong alignment with shareholder interests and potential confidence in the company's future.
• The warrants granted to Mr. Askew were fully earned upon issuance, suggesting that the services for which they were compensation have been completed or recognized.

Negatives

• A significant portion of the warrants (1,134,791 shares) held by Mr. Askew cannot be exercised until July 3, 2025, which limits immediate liquidity or full control over the entire stake.

Risks

• The Reporting Person retains the right to change his investment intent and may, from time to time, acquire additional shares or dispose of some or all of his beneficially owned securities, which could impact the stock price.

Future Outlook

The Reporting Person acquired the securities for investment purposes and retains the right to change his investment intent. He may purchase additional securities or dispose of existing holdings from time to time, depending on general market and economic conditions affecting the Issuer and other relevant factors. Currently, there are no specific plans or proposals for extraordinary corporate transactions, changes in the board or management, capitalization or dividend policy, or the Issuer's business or corporate structure.

Management Comments

• "The Reporting Person acquired the securities for investment purposes."
• "The Reporting Person retains the right to change his investment intent, and may, from time to time, acquire additional shares of Common Stock or other securities of the Issuer, or sell or otherwise dispose of (or enter into a plan or arrangements to sell or otherwise dispose of), all or part of the shares of Common Stock or other securities of the Issuer, if any, beneficially owned by him, in any manner permitted by law."

Industry Context

This filing is a specific disclosure of an individual's beneficial ownership stake in Agassi Sports Entertainment Corp. and does not provide broader industry trends or context. The company's name suggests involvement in the sports and entertainment sector, but the document does not elaborate on its specific business activities or market position within that industry.

Corporate Governance

Related Party Transactions

• The Issuer granted warrants to purchase 2,269,583 shares of Common Stock to James M. Askew, a Board Director, on July 3, 2024, in connection with a Consulting Agreement and in consideration for services rendered. This constitutes a transaction between the company and a related party (a director).

Stakeholder Impact

• **Shareholders:** The disclosure provides transparency regarding a significant insider's ownership stake, which can be interpreted as a signal of confidence from a board member. The equity compensation aligns the director's interests with shareholder value.
• **Management/Employees:** The compensation structure for a key director (James M. Askew) through warrants aligns his incentives with the company's long-term performance.

Next Steps

• James M. Askew may purchase additional securities or dispose of existing holdings in Agassi Sports Entertainment Corp. in the future.
• A portion of Mr. Askew's warrants (1,134,791 shares) will become exercisable on July 3, 2025.

Key Dates

Recommendation

Keywords

SEC filing, Schedule 13D, Agassi Sports Entertainment Corp., James M. Askew, beneficial ownership, common stock, warrants, insider ownership, corporate governance, investment