GlobalTech Corporation Enters Into Definitive Agreement to Acquire Moda in Pelle, to Deliver a Boost to its Operations
Rhea-AI Summary
GlobalTech (OTC:GLTK) entered into a definitive agreement to acquire a 51% stake in 123 Investments Limited d/b/a Moda in Pelle (MIP) on December 2, 2025.
MIP reported approximately $37 million in net revenues in its last fiscal year and operates >40 UK retail stores plus an online channel. Consideration includes GlobalTech common shares and a Convertible Series A Preferred that converts on uplisting to NASDAQ or upon other specified conditions; the preferred does not accrue dividends. The company expects closing within 30 days, subject to customary conditions, and plans to deploy Thrivo AI to enhance MIP’s e-commerce and operations.
Positive
- 51% stake acquisition adds majority control
- MIP reported $37 million in last fiscal year net revenues
- MIP operates >40 UK retail stores and online channels
- Planned Thrivo AI deployment to boost e-commerce capabilities
- Immediate UK market footprint expansion for GlobalTech
Negative
- Consideration includes stock and convertible preferred, creating dilution risk
- Series A preferred converts on uplisting, making conversion contingent
- Closing is subject to customary conditions and not guaranteed within 30 days
- Series A preferred does not accrue dividends, limiting investor cash rights
News Market Reaction
On the day this news was published, GLTK declined 1.49%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
GLTK slipped 0.51% with very light volume, while key telecom peers were mixed: some flat and others down modestly (e.g., moves of about -2–3%), suggesting stock-specific dynamics rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 02 | Moda in Pelle deal | Positive | -1.5% | Definitive agreement to acquire 51% of UK footwear brand MIP. |
| Nov 12 | Q3 2025 earnings | Positive | +2.6% | Q3 revenue growth with smaller operating loss and modest positive EBITDA. |
| Sep 25 | Leadership appointment | Positive | +2.2% | Appointment of seasoned executive Frank R. Parrish III as president. |
| Sep 08 | Convertible note financing | Positive | +36.6% | $1.4M private placement of convertible notes to fund AI and expansion. |
Recent corporate/strategic news (leadership, financing, acquisitions) has more often seen share price gains, with this acquisition headline a rare negative divergence.
This announcement continues GlobalTech’s use of strategic deals to expand beyond its core telecom services. In September 2025, the company raised $1.4 million via a private placement of convertible notes to fund AI solutions and acquisitions, followed by leadership strengthening with a new president later that month. Q3 2025 results on November 12 showed revenue growth but ongoing losses. A prior sports software acquisition in April 2025 drew a positive price reaction, providing context for today’s Moda in Pelle majority stake deal.
Market Pulse Summary
This announcement details GlobalTech’s plan to acquire a 51% stake in Moda in Pelle, adding a premium UK footwear and e-commerce business with about $37 million in net revenues and more than 40 stores. Consideration is entirely in common and Convertible Series A Preferred Stock, which converts upon uplisting and other conditions but carries no dividends. Investors may track closing within 30 days, integration of Thrivo AI, terms of the preferred conversion, and how this complements prior acquisitions and recent financing.
Key Terms
convertible series a preferred stock financial
common stock financial
nasdaq capital market regulatory
form 8-k regulatory
AI-generated analysis. Not financial advice.
RENO, Nev., Dec. 02, 2025 (GLOBE NEWSWIRE) -- GlobalTech Corporation (OTC:GTLK)(“GTC” or "GlobalTech”), a U.S. based technology holding company specializing in artificial intelligence (AI), big data, and emerging technologies, today announced the entry into a definitive purchase agreement to acquire a
Dan Green, GlobalTech CEO commented, "We believe that the acquisition of MIP (which has been in business for 50 years) is a perfect fit for GlobalTech as we expect it to deliver substantial value creation, enhance our technology capabilities and provide direct access to the lucrative UK market. We further expect, Thrivo AI deployment in MIP’s operations will further boost business operations for GlobalTech and MIP. We look forward to collaborating with the 123 Investments team as we work to complete this exciting transaction.”
DETAILS OF THE TRANSACTION
GTC is acquiring a
123 Investments d/b/a Moda in Pelle (MIP) is a British footwear brand established in 1975. MIP has a strong presence in the UK market, offering high quality footwear and accessories through more than 40 retail stores and concessions and a strong online presence and independent stockists. For 50 years, MIP has been synonymous with elegance, blending British sophistication with Italian craftsmanship. Founded in Leeds by Stephen Buck, MIP’s journey began with a single store on Leed’s Bond Street. Today it remains rooted in Yorkshire, crafting stunning shoes, boots, bags, and accessories from the finest leathers.
More information regarding the transaction can be found in the Current Report on Form 8-K filed by GlobalTech with the Securities and Exchange Commission on December 2, 2025.
The Loev Law Firm, PC served as counsel to the Company in connection with the entry into the agreements with 123 Investments Limited.
About GlobalTech Corporation
GlobalTech Corporation is a U.S.-based technology holding company driving innovation across AI, big data, and emerging technologies. Through strategic partnerships, scalable platforms, and capital investments, GlobalTech empowers visionary companies and enterprises to transform industries and create exponential value in the digital economy.
For more information, visit: www.globaltechcorporation.com
Forward-Looking Statements
Certain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements, that involve a number of risks and uncertainties. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. The important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, our ability to close the acquisition of 123 Investments, the timing thereof, and potential lawsuits in connection therewith, our ability to consolidate 123 Investments’ operations into ours, our strategic plans, treasury management, expected benefits of integrating World Mobile Chain, our need for additional capital, the terms of such capital and potential dilution caused thereby; foreign currency exchange losses, fluctuations and translation risks related to our business in Pakistan; the international economic environment, geopolitical developments and unexpected global events which could cause our business to decline; investing in emerging markets, where our operations are located, is subject to greater risks than investing in more developed markets, including significant political, legal and economic risks; our revenue performance can be unpredictable by nature; we operate in highly competitive markets, which we expect only to become more competitive; we may be unable to keep pace with technological changes and evolving industry standards; we are exposed to cyber-attacks and other cybersecurity threats that may lead to compromised or inaccessible telecommunications, digital and financial services, and/or leaks or unauthorized processing of confidential information, and perceptions of such threats may cause customers to lose confidence in our services; the telecommunications industry is highly capital-intensive and requires substantial and ongoing expenditures of capital; we may also be subject to increases in license fees for some of our licenses or to obtain new licenses; the loss of important intellectual property rights, as well as third-party claims that we have infringed on their intellectual property rights; our substantial amounts of indebtedness and debt service obligations could materially decrease our cash flow, which could adversely affect our business and financial condition; our status as a controlled company; the fact that no active trading market for our common stock exists, and an active trading market may not develop or be sustained in the future; stockholders may be diluted significantly through our efforts to obtain financing and satisfy obligations through the issuance of additional shares of the common stock, including upon conversion of certain outstanding convertible notes; the telecommunications industry is a highly regulated industry, and we are subject to an extensive variety of laws and operate in uncertain judicial and regulatory environments, which may result in unanticipated outcomes that could harm our business; our operating subsidiaries are located in Pakistan, and their assets are in Pakistan, which may affect shareholder rights, including the ability to enforce civil liabilities under U.S. securities laws; we are, and may in the future be, involved in, associated with, or otherwise subject to legal liability in connection with disputes and litigation with regulators, competitors, and third parties; our licenses are granted for specific periods and may be suspended, revoked, or we may be unable to extend or replace these licenses upon expiration; we may be affected by economic downturns both in Pakistan and globally, changes in inflation and interest rates, tariffs, increased costs of borrowing associated therewith and potential declines in the availability of such funding; and risks relating to future divestitures, asset sales, joint ventures and acquisitions.
Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in GlobalTech’s publicly filed reports, including, but not limited to, GlobalTech’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, and future Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. These reports are available at www.sec.gov. GlobalTech cautions that the foregoing list of important factors is not complete. All subsequent written and oral forward-looking statements attributable to GlobalTech or any person acting on behalf of GlobalTech are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on GlobalTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GlobalTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GlobalTech undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by GlobalTech. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Contact:
Louie Toma
CORE IR
louie@coreir.com
212-655-0924
FAQ
What did GlobalTech (GLTK) announce on December 2, 2025 about Moda in Pelle?
How much revenue does Moda in Pelle contribute and why does it matter to GLTK?
What is the purchase consideration for GLTK's acquisition of Moda in Pelle?
When is the Moda in Pelle acquisition expected to close for GlobalTech (GLTK)?
How will Thrivo AI affect Moda in Pelle and GlobalTech after the deal?
What investor risks should shareholders of GLTK consider from the MIP deal?
