Agassi Sports Entertainment Corp. reported a larger quarterly net loss of $2,510,314 for the three months ended March 31, 2026, compared with $1,665,246 a year earlier. The loss was driven by rising general and administrative costs, including $981,455 of warrant-based stock compensation and payments tied to its IBM technology agreements.
At March 31, 2026, the company had cash of $316,989, current liabilities of $1,191,997 and a working capital deficit of $873,810, along with an accumulated deficit of $42,140,416. Management disclosed that these conditions raise substantial doubt about its ability to continue as a going concern and plans to seek additional equity financing while advancing its AI-enabled racquet sports platform and the World Series of Pickleball concept.
BORETA RONALD S reported acquisition or exercise transactions in this Form 4 filing.
Agassi Sports Entertainment Corp. director and CEO Ronald S. Boreta reported his ownership positions and a new equity award. The filing lists common stock held indirectly through Boreta Enterprises, Ltd., All-American Golf Center, Inc., and the Boreta Lifetime Trust, as well as a direct common stock holding.
Boreta also received a grant of 300,000 Restricted Stock Units under the issuer's 2026 Equity Incentive Plan, each representing the right to receive one share of common stock at settlement. These RSUs vest in three equal installments on December 31, 2026, 2027, and 2028, subject to his continued service, and will either vest or be canceled before those dates.
The filing notes that Boreta disclaims beneficial ownership of certain indirectly held shares except to the extent of his pecuniary interest, despite having voting and dispositive power over several entity-held blocks.
Agassi Sports Entertainment Corp. disclosed that it has formally granted 300,000 restricted stock units to its Chief Executive Officer and director, Ronald S. Boreta. These units were promised under his Executive Employment Agreement and are issued pursuant to the company’s 2026 Equity Incentive Plan.
The restricted stock units are settleable in common stock and vest in three equal installments on December 31, 2026, December 31, 2027, and December 31, 2028, conditioned on Mr. Boreta’s continued service with the company. The detailed terms are set out in an RSU Award Grant Notice and Award Agreement incorporated by reference.
Agassi Sports Entertainment Corp. entered into a private Subscription Agreement with its largest stockholder, Investments AKA, LLC, an entity indirectly controlled by Andre K. Agassi. Investments AKA purchased 50,000 shares of restricted common stock at $5.00 per share, providing proceeds of $250,000 to the company.
The transaction was completed as an unregistered offering under Section 4(a)(2) and/or Rule 506 of Regulation D, with Investments AKA qualifying as an accredited investor and receiving access to information similar to a registration statement. No sales commissions were paid in connection with this capital raise.
Agassi Sports Entertainment Corp. major shareholder Andre Agassi increased his indirect stake through affiliated LLCs. An entity associated with him purchased 50,000 shares of common stock in an open-market transaction at $5.00 per share, a total of $250,000.
Following this purchase, entities managed through Agassi’s structure collectively hold 1,654,354 common shares indirectly, including 637,044 shares held by one LLC described in the footnotes. All holdings are reported as indirect ownership through Investments AKA, LLC, ASI Group, LLC, and Agassi-related entities.
Agassi Sports Entertainment Corp. large shareholders filed Amendment No. 5 to disclose higher ownership and new warrants. Andre K. Agassi and related entities now beneficially own 2,740,398 shares of common stock, or 20.9% of the company, based on 12,633,250 shares outstanding as of March 27, 2026.
The increase reflects prior cashless exercise of 705,417 warrants held by Investments AKA, LLC into 651,231 shares and a new Brand Partner Agreement with Stefanie GrafGraf Warrants to buy 1,000,000 shares at $5.50 per share over five years for advisory and endorsement services, with half exercisable immediately and half after one year. The reporting group states they may buy or sell more shares over time but have no current plans for corporate control changes.
Agassi Sports Entertainment Corp. reported that ten percent owner Andre Agassi, through his spouse, received a grant of warrants for 1,000,000 shares of common stock. The warrants have an exercise price of $5.50 per share and expire on November 22, 2030.
According to the disclosure, half of the warrants became exercisable on November 22, 2025, and the remaining half become exercisable on November 22, 2026. The securities were issued to Agassi’s spouse as consideration for services under a Brand Partner Agreement, and are reported as indirectly owned. The filing also shows indirect holdings of common stock through LLC entities.
Agassi Sports Entertainment Corp. (AASP) is transforming from a former shell into a development-stage racquet sports media and technology company focused on pickleball, padel and tennis. The company is building an AI-powered digital platform, “Agassi Intelligence,” with IBM to deliver swing analysis, coaching and e‑commerce, and plans a companion mobile app and live “World Series of Pickleball” event property.
The strategy depends on new content, sponsorships, brand partnerships and celebrity relationships, including Andre Agassi and Stefanie Graf. However, AASP has no operating revenue, an accumulated deficit of $39,630,102 as of December 31, 2025, and its auditors have expressed substantial doubt about its ability to continue as a going concern. The company must fund significant fixed commitments to IBM totaling more than $2.1 million under a services statement of work and at least $500,000 under an embedded cloud agreement, with a potential additional $3,300,000 commitment through 2031 if not terminated. Recent equity raises of $2,500,000 in 2024 and $400,000 in March 2026 support early-stage development but also dilute shareholders, and management warns that further financing will likely be needed and may not be available on acceptable terms.
Agassi Sports Entertainment Corp. has formalized a new executive employment agreement with CEO Ronald S. Boreta and adopted a 2026 Equity Incentive Plan. The agreement keeps him as CEO through February 28, 2031, with automatic one-year renewals and a base salary of $270,000 plus automatic 10% annual increases and discretionary cash and equity bonuses.
The agreement includes a $250,000 cash sign-on bonus (not yet paid) and a grant of 300,000 restricted stock units vesting in thirds on December 31, 2026, December 31, 2027 and December 31, 2028, subject to Board approval after a planned Form S-8 for the 2026 Plan. Termination without cause or for good reason triggers lump-sum severance equal to three times current base salary plus target bonus, COBRA premium support for 12 months, and accelerated vesting of equity awards, conditioned on a release and ongoing compliance with non-compete and non-solicitation covenants.
The 2026 Equity Incentive Plan authorizes up to 1,500,000 shares of common stock for awards including nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock-based incentives for employees, directors and consultants, with standard vesting, forfeiture, corporate transaction and U.S. federal tax provisions.
Agassi Sports Entertainment Corp. CFO Shawn Corey Cable reported an open-market purchase of company stock. He bought 1,000 shares of common stock at $4.15 per share, increasing his directly held position to 2,000 shares after the transaction. This filing reflects a net insider share purchase, with no derivative securities reported.