Company: MYCB
Filing Date: 2025-08-19
Form Type: 8-K
Source: 0001640334-25-001563
Chunk: 0

Company: My City Builders, Inc.
Filing Date: 2025-08-19
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement & Amendments

On July 8, 2025, My City Builders, Inc., (the “ Company”) entered into a Share Purchase Agreement, (the “ Agreement”) with, RAC Merger, LLC (the “ Merger LLC”). The Merger LLC is owned by the following shareholders, officers and directors (the “ Affiliates”) of the Company or its wholly owned subsidiary, RAC Real Estate Acquisition Corp. (“ RAC”):

  Yolanda Goodell – shareholder, interim chief executive officer and director of the Company, vice president and director of RAC.              
  Francis Pettilloni – shareholder, interim chief financial officer and director of the Company, chief operating officer and director or RAC.  
  Frank Gillen – shareholder of the Company and president and director of RAC.                                                                 
  Jose Maria Eduardo Gonzales Romero – shareholder, former chief executive officer and director of the Company.                                

As a result of the Agreement, the Merger LLC purchased 1,000 shares of RAC’s common stock from the Company (the “Shares”) (which constitute 100% of the issued and outstanding shares of RAC) in exchange for consideration in the amount of $2,374,896.00. The consideration is to be distributed pro rata to the Company’s shareholders. However, since the Merger LLC is made up of the Affiliates who own 98.5% of the current issued and outstanding common stock of the Company, in lieu of the any distribution to the Affiliates, the Affiliates portion of the distribution in the amount of $2,339,272.56 is satisfied by the assignment of the Shares to the Merger LLC and the remainder of the distribution in the amount of $35,623.44, paid by the Merger LLC, will be distributed pro rata to the remaining Company shareholders. Further, as a result of the sale of the stock of the Company’s wholly owned operating company, RAC is now wholly owned by Merger LLC.

Item 2.01 Completion of Acquisition or Disposition of Assets