Kustom Entertainment entered into an amendment and forbearance/extension to its Asset Purchase Agreement with Cycurion for the sale of its video-solutions division. The amended terms provide an immediate, non-refundable $250,000 cash payment and replace 2,000,000 warrants with $600,000 of 12% Series H preferred stock, convertible into Cycurion common shares at $1.45 per share based on stated value plus accrued dividends. Registration rights were updated to cover shares issuable upon conversion and dividend payments. All conditions precedent have been satisfied or waived, and closing is targeted on or about September 15, 2026.
Agreement details:
- Agreement type: Amendment No. 1 and Forbearance/Extension to Asset Purchase Agreement (asset sale of video-solutions division)
- Counterparty: Cycurion
- Signed / Effective: Jul 23 2026 / same
- Duration / Termination: Through Sep 15 2026
- Reason: Extend closing and adjust consideration for asset divestiture
Original SEC Filing: KUSTOM ENTERTAINMENT, INC. [ KUST ] – 8-K – Jul. 27, 2026
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