UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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of the Securities Exchange Act of 1934
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EXPLANATORY NOTE
A copy of the Mutual Termination Agreement was previously filed as Exhibit 10.1 to the Current Report on Form 8-K filed by Newbury Street Acquisition Corp. (the “Company”) on December 20, 2024.
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Item 8.01 Other Events.
On July 2, 2025, the Company and Infinite Reality, Inc. entered into a General Release and Settlement Agreement resolving the dispute regarding payment of the Termination Fee pursuant to the Mutual Termination Agreement. Pursuant to the Settlement Agreement, Infinite Reality is required to pay the Company a total of $5.25 million, in installments to be paid through and including September 18, 2025. As per the terms of the Settlement Agreement, if Infinite Reality makes interim payments earlier than required, they may receive a discount of up to $300,000 from the total amount owed.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 3, 2025
| Newbury Street Acquisition Corporation | ||
| By: | /s/ Thomas Bushey | |
| Thomas Bushey | ||
| Chief Executive Officer | ||
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