Mergers & Acquisitions ·
SurgePays sells ClearLine platform for $27.5M in stock to boost Nasdaq listing compliance
SURGSurgePays, Inc.
SurgePays, Inc. closed the sale of its ClearLine engagement platform and GPOX Wireless business to ClearLine Apps LLC, a subsidiary of GPO Plus, Inc., on September 10, 2026. The transaction involved a $27,500,000 purchase price paid entirely through the issuance of 25,000,000 shares of GPO Plus Series D Preferred Stock to SurgePays. Each preferred share is convertible into one share of GPO Plus common stock and carries no voting or preferential dividend rights. To mitigate risk, SurgePays entered into a Put Option Agreement with Emerald Shoals Targeted Opportunities Fund LP, granting the right to sell the preferred shares for $27,500,000 over a three-year and 90-day period following closing. The acquisition increased SurgePays' stockholders' equity above Nasdaq's listing requirements, allowing the company to address previous deficiencies in market value and bid price. SurgePays operates in the technology sector, providing payment processing and wireless solutions.