OpenWorld, Inc. (NASDAQ: OPNW) entered into an Agreement and Plan of Merger on October 16, 2026, to acquire Blocksight Holdings Co. The transaction involves OpenWorld Subco (US) Inc., a wholly owned subsidiary of OpenWorld, merging with and into Blocksight, a Delaware corporation. Upon closing, Blocksight will become a wholly owned subsidiary of OpenWorld.
The aggregate purchase price for the transaction is 641,924 shares of OpenWorld’s common stock. This amount represents 4% of the Company’s fully diluted capitalization following its previous merger with Open World Ltd. The closing is subject to customary conditions.
Under the terms of the Merger Agreement, the Sellers—Kim & Associates Advisory., Inc., Patrick Kim, Ryan Yue, and Sungmeen Hong—will receive a portion of the Stock Consideration in the form of restricted shares. A total of 275,110 shares will be issued to the Sellers, subject to vesting restrictions that begin 22 months after the closing and continue until the 36-month anniversary, contingent upon continued employment. The remaining 366,814 shares will be issued without vesting restrictions.
OpenWorld has agreed to enter into employment offer letters with Patrick Kim and Sungmeen Hong. Mr. Kim will serve as Chief Executive Officer of Blocksight with an annual base salary of approximately $250,000. He is entitled to a one-time signing bonus of $357,350, a $357,350 bonus on the six-month anniversary of his employment, and a $357,350 bonus on the twelve-month anniversary. Additionally, Mr. Kim is eligible for retention bonuses of $536,025 on the twenty-four-month and thirty-six-month anniversaries of his employment. Mr. Hong will serve as Chief Product Officer with an annual base salary of approximately $350,000 and a one-time signing bonus of $142,650.
In conjunction with the merger, OpenWorld has announced two non-binding term sheets for tokenized financing programs. On October 7, 2026, OpenWorld entered into a term sheet with BeyondAI for an intellectual property-backed transaction of up to $130 million. On October 15, 2026, OpenWorld entered into a term sheet with Meridian for a tokenized financing program of up to $1 billion to fund a distributed AI computing network powered by solar energy and residential battery storage. The term sheets are subject to the completion of due diligence, negotiation of definitive documentation, and satisfaction of applicable conditions.
