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James M. Askew boosts Agassi Sports (AASP) stake to 17.7% after cashless warrant exercise

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Agassi Sports Entertainment Corp. insider James M. Askew has updated his ownership disclosure after exercising warrants. Askew, an entrepreneur and board member, now beneficially owns 2,097,860 shares of common stock, representing 17.7% of the company’s common stock.

The filing explains that on July 3, 2024, the company granted Askew warrants to purchase up to 2,269,583 shares at an exercise price of $0.397 per share, expiring July 3, 2029, as consideration under a consulting agreement. On February 4, 2026, he exercised these warrants in full on a cashless basis, receiving 2,097,740 net shares after forfeiting 171,843 warrant shares to cover the aggregate exercise price.

The 17.7% ownership figure is based on 11,882,796 shares outstanding as of February 4, 2026, which includes 9,785,056 shares previously reported outstanding plus the 2,097,740 shares issuable from the exercised warrants. Askew states he holds the securities for investment purposes and, aside from potential future purchases or sales, currently has no specific plans for major corporate changes at the company.

Positive

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Negative

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Insights

Large warrant exercise lifts an existing insider to a 17.7% stake, increasing insider concentration and share count.

James M. Askew moved from holding a small stake to becoming a major shareholder through a full cashless exercise of warrants to buy up to 2,269,583 shares at $0.397 per share, expiring on July 3, 2029. The exercise on February 4, 2026 yielded 2,097,740 net shares after forfeiting 171,843 warrant shares to satisfy the exercise cost.

This transaction brings Askew’s beneficial ownership to 2,097,860 shares, or 17.7% of 11,882,796 shares of common stock outstanding as of February 4, 2026. As an existing director and consultant, his larger stake aligns his economic exposure more closely with the company’s performance but also modestly increases dilution relative to the 9,785,056 shares outstanding as of November 4, 2025.

The filing characterizes Askew’s holdings as for investment purposes and lists no concrete plans for mergers, restructurings, or governance changes. Future impact on the shareholder base will depend on whether he later buys or sells shares, but no specific follow-on actions are outlined in this document.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
(13) Percentage ownership is based on 11,882,796 shares of common stock of the Issuer outstanding as of February 4, 2026, which includes 9,785,056 shares of common stock outstanding as of November 4, 2025, as set forth on the cover page of the Issuer's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, together with the 2,097,740 net shares of common stock of the Issuer issuable upon exercise of the Warrants (as discussed below).


SCHEDULE 13D


Askew James M.
Signature:/s/ James M. Askew
Name/Title:James M. Askew
Date:02/05/2026

FAQ

How many Agassi Sports Entertainment (AASP) shares does James M. Askew now beneficially own?

James M. Askew beneficially owns 2,097,860 shares of Agassi Sports Entertainment common stock. This stake reflects his original holdings plus shares received from exercising warrants and represents a 17.7% ownership interest based on 11,882,796 shares outstanding as of February 4, 2026.

What percentage of Agassi Sports Entertainment (AASP) does James M. Askew own after the warrant exercise?

After exercising his warrants, James M. Askew owns 17.7% of AASP’s common stock. This percentage is calculated using 11,882,796 shares outstanding as of February 4, 2026, which includes 2,097,740 shares issued upon his cashless warrant exercise plus previously outstanding shares.

What were the key terms of James M. Askew’s warrants in Agassi Sports Entertainment (AASP)?

On July 3, 2024, Askew received warrants to purchase up to 2,269,583 shares of AASP common stock at an exercise price of $0.397 per share, expiring July 3, 2029. The warrants were fully earned upon issuance and allowed cashless exercise under a Warrant Agreement.

How did James M. Askew exercise his Agassi Sports Entertainment (AASP) warrants?

On February 4, 2026, Askew exercised his warrants on a cashless basis, receiving 2,097,740 net shares of common stock. He forfeited 171,843 warrant shares back to the company as payment of the aggregate exercise price, calculated using the fair market value on the exercise date.

Why were James M. Askew’s warrants in Agassi Sports Entertainment (AASP) granted?

The company granted the warrants to Askew on July 3, 2024, in connection with a consulting agreement and as consideration for services rendered. The warrants, covering up to 2,269,583 shares, were fully earned upon issuance and documented in a Warrant to Purchase Common Stock.

Does James M. Askew plan corporate changes at Agassi Sports Entertainment (AASP)?

The filing states Askew acquired his AASP securities for investment purposes and currently has no specific plans for mergers, major asset sales, board changes, or other significant corporate restructurings. He may, however, buy or sell shares in the future as circumstances warrant.

What is the share count used to calculate James M. Askew’s 17.7% stake in AASP?

His 17.7% ownership is based on 11,882,796 shares of AASP common stock outstanding as of February 4, 2026. This figure combines 9,785,056 shares previously outstanding as of November 4, 2025, plus the 2,097,740 shares issuable upon his exercised warrants.
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