Agassi Sports owner buys 300,000 share-warrant units
The transactions exchange $1,000,000 of note principal for shares and warrants and include 300,000 units priced at $5 per unit.
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Form Type
4
Rhea-AI Filing Summary
Agassi Sports Entertainment Corp. (AASP) reported a note exchange and unit acquisition on October 16, 2026, involving ten percent owner Investments AKA, LLC; Andre K. Agassi is also identified as a ten percent owner. Investments AKA exchanged the $1,000,000 outstanding principal of its convertible note for 200,000 common shares and warrants to purchase 200,000 shares; the note was canceled and accrued unpaid interest was waived. Investments AKA also acquired 300,000 units at $5 per unit, each consisting of one common share and one warrant. The warrants carry a $7 exercise price and expire October 15, 2029. A separate holding entry lists 637,044 shares held by ASI Group, LLC.
Insider Trade Summary
Net Buyer: 1,000,000 shares
Net Buy
6 txns
Insider
AGASSI ANDRE K, INVESTMENTS AKA, LLC
Role
10% Owner | 10% Owner
Bought
1,000,000 shs
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock Purchase Warrants F1, F7, F3 | 200,000 | -- | -- |
| Purchase | Common Stock Purchase Warrants F4, F8, F3 | 300,000 | -- | -- |
| Purchase | Common Stock F1, F2, F3 | 200,000 | -- | -- |
| Purchase | Common Stock F4, F3 | 300,000 | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
Holdings After Transaction:
Common Stock Purchase Warrants — 500,000 contracts (Direct);
Common Stock — 2,154,354 shares (Direct);
Common Stock — 637,044 shares (Indirect, BY LLC)
Footnotes (8)
- F1. On October 16, 2026, Investments AKA, LLC ("AKA") and the Issuer entered into an amendment to the Issuer's Convertible Promissory Note CN-1, originally issued to AKA on July 28, 2026 (the "Note"). Pursuant to the amendment, the entire outstanding principal balance of $1,000,000 was immediately exchanged for 200,000 shares of Common Stock and warrants to purchase 200,000 shares of Common Stock, based on the price and warrant coverage applicable to the offering discussed in footnote 4. The Note was canceled upon the exchange. Any accrued and unpaid interest was waived and forgiven and was excluded from the exchange consideration.
- F2. Before the amendment, the Note's conversion price depended on the price of a future qualifying financing and was not fixed. Accordingly, the Note was not previously reported as a derivative security pursuant to Rule 16a-1(c)(6). The amendment established the consideration and security quantities reported herein, and the acquisitions are reported as of its effective date.
- F3. These shares are held directly by Investments AKA, LLC which is managed by Agassi Ventures, LLC which is managed by Andre K. Agassi. All of the membership interests of Investments AKA, LLC are held by Agassi Ventures, LLC. The Andre Agassi Trust, of which Andre K. Agassi is the Trustee, holds all of the membership interests of Agassi Ventures, LLC.
- F4. The 300,000 shares of common stock and warrants to purchase 300,000 shares of common stock of the Issuer were sold as part of 300,000 units (each consisting of one share of common stock and one warrant to purchase one share of common stock) for a unit price of $5.00.
- F5. These shares are held directly by ASI Group, LLC which is managed by AKA Four, LLC which is managed by Agassi Ventures, LLC which is managed by Andre K. Agassi. Investments AKA, LLC owns 100% of ASI Group, LLC.
- F6. Represents the direct ownership of Andre K. Agassi.
- F7. The warrants were issued together with the Common Stock as consideration for cancellation of the Note (see footnote 1), without additional cash payment.
- F8. The warrants were issued together with the Common Stock as part of the units discussed in footnote 4, without additional cash payment.
Key Figures
Outstanding note principal exchanged: $1,000,000
Common shares received in note exchange: 200,000 shares
Warrants issued in note exchange: 200,000 warrants
+4 more
7 metrics
Outstanding note principal exchanged
$1,000,000
Investments AKA's convertible note on October 16, 2026
Common shares received in note exchange
200,000 shares
Shares received by Investments AKA on October 16, 2026
Warrants issued in note exchange
200,000 warrants
Warrants to purchase common shares
Units acquired
300,000 units
Each unit consisted of one common share and one warrant
Unit price
$5 per unit
Price of the 300,000 units
Warrant exercise price
$7 per share
Reported warrant groups
Shares held by ASI Group, LLC
637,044 shares
Separate holding entry dated October 16, 2026
Key Terms
Convertible Promissory Note, qualifying financing, warrant coverage, unit price, +1 more
5 terms
Convertible Promissory Note financial
"the Issuer's Convertible Promissory Note CN-1"
A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.
qualifying financing financial
"the price of a future qualifying financing"
warrant coverage financial
"the price and warrant coverage applicable to the offering"
Warrant coverage is the share of a financing deal that comes with detachable warrants — coupons that let the holder buy company stock at a set price later. Investors get these as a sweetener for taking a risk, because warrants can turn into equity if the stock rises, while existing shareholders face potential dilution when those warrants are exercised.
unit price financial
"for a unit price of $5.00"
accrued and unpaid interest financial
"Any accrued and unpaid interest was waived and forgiven"
Accrued and unpaid interest is the interest that has built up on a loan or debt but hasn't been paid yet. It's like owing your friend money for a favor over time—you're expected to pay it later, even though you haven't paid it yet. This matters because it shows how much you owe beyond the original amount borrowed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did AASP ten percent owner Investments AKA acquire?
Investments AKA, LLC exchanged the $1,000,000 outstanding principal of its convertible note for 200,000 common shares and warrants to purchase 200,000 shares. It also acquired 300,000 units priced at $5 per unit, each containing one common share and one warrant.
What are the exercise terms for the AASP warrants reported in October 2026?
The reported exercise date for both warrant groups is October 15, 2026; each carries a $7 exercise price and expires October 15, 2029. The warrants were issued with the shares without additional cash payment.
AI-generated analysis. How Rhea-AI works. Not financial advice.
