GlobalTech Corporation Closes Acquisition of Majority Stake of Moda in Pelle

Core Insights - GlobalTech Corporation has successfully closed the acquisition of a 51% controlling interest in 123 Investments Limited, operating as Moda in Pelle, a premium footwear brand established in 1975 with a strong presence in the UK market [1][2] Transaction Details - The acquisition aims to provide GlobalTech with an additional revenue stream and enhance its direct-to-consumer and e-commerce capabilities through the integration of its Thrivo AI platform within the Moda in Pelle ecosystem [2] - The transaction was executed in exchange for shares of GlobalTech common stock and Convertible Series A Preferred Stock [3] - The Convertible Series A Preferred Stock can be converted into shares of GlobalTech common stock upon certain conditions, including an uplisting to the Nasdaq Capital Market [4] Company Background - Moda in Pelle has been synonymous with elegance, blending British sophistication with Italian craftsmanship, and operates over 40 retail stores and concessions in the UK, alongside a robust online presence [6] - GlobalTech Corporation is focused on growth in AI, big data, and emerging technologies, seeking to empower innovative companies through strategic partnerships and capital investment [7]