I additio , as p eviously co templated i the p eviously a ou ced o -bi di g LOI, a pote tial ew i vesto has ag eed to p ovide $500,000 of ew capital to the Compa y th ough a additio al secu ed co ve tible ote. This ew capital p ovides Dot Ai with i c eme tal esou ces to suppo t its ope ati g i itiatives a d ge e al co po ate pu poses.
“Reti i g the White Lio otes i full is a mea i gful step fo wa d i st e gthe i g ou bala ce sheet a d simplifyi g Dot Ai’s capital st uctu e,” said Ed Nab otzky, Co-Fou de a d Chief Executive Office of Dot Ai. “By elimi ati g this secu ed obligatio a d eleasi g the secu ity i te ests that backed it, we a e emovi g both complexity a d isk f om ou fi a cial st uctu e while c eati g g eate flexibility to execute o ou st ategic pla . We a e equally e cou aged that the ew i vesto co templated i the p eviously a ou ced LOI has p ovided additio al capital as a fi st step towa ds a sig ifica t pote tial t a sactio fo the compa y.
Dot Ai (Nasdaq:DAIC) is a IoT a d AI-based SaaS compa y at the fo ef o t of Asset I tellige ce tech ology fo sma t supply chai ope atio s. Leve agi g state-of-the-a t AI e gi es, cutti g-edge 5G RF a d BLE tech ology, se so -ag ostic a chitectu e a d seamless cloud i teg atio s, Dot Ai offe s co ti uous asset visibility a d p edictive a alytics that i teg ate with existi g/legacyi f ast uctu e. The Compa y se ves multiple i dust ies i cludi g aviatio , co st uctio , delive y, milita y, mi i g, etail, sea po ts, medical logistics, wa ehousi g a d ma ufactu i g. Fo mo e i fo matio , please visit daic.ai.
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the P ivate Secu ities Litigatio Refo m Act of 1995. Fo wa d-looki g stateme ts i clude all stateme ts that a e ot histo ical facts, i cludi g stateme ts ega di g the Compa y’s capital st uctu e, bala ce sheet, a d st ategic pla s a d i clude stateme ts ega di g the p oposed sale of a po tio of the Compa y’s ope ati g busi ess. All fo wa d-looki g stateme ts a e based o Dot Ai’s cu e t expectatio s a d beliefs co ce i g futu e developme ts a d thei pote tial effects o the Compa y. Fo wa d-looki g stateme ts a e subject to isks a d u ce tai ties that could cause actual esults to diffe mate ially f om those exp essed i the fo wa d-looki g stateme ts. Reade s a e cautio ed ot to put u due elia ce o fo wa d-looki g stateme ts, a d Dot Ai assumes o obligatio to update o evise these fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise, except as equi ed by law.
The lette of i te t (LOI) elati g to a sale of a po tio of the Compa y’s ope ati g is o -bi di g, othe tha ce tai p ovisio s elati g to exclusivity, a d expe ses, a d does ot co stitute a bi di g commitme t to complete the p oposed t a sactio . Completio of the p oposed t a sactio is subject i all espects to the egotiatio a d executio of defi itive ag eeme ts, satisfacto y completio of due dilige ce, boa d app oval, eceipt of a y equi ed stockholde , le de , Nasdaq, a d egulato y co se ts o app ovals, ma ket co ditio s, a d the satisfactio of customa y closi g co ditio s, i cludi g mai te a ce of the Compa y’s listi g o The Nasdaq Stock Ma ket LLC. The e ca be o assu a ce that defi itive ag eeme ts will be executed, that the p oposed t a sactio will be completed o the te ms desc ibed i the lette of i te t o at all, o as to the timi g of a y such t a sactio . The Compa y does ot i te d to disclose fu the developme ts u less a d u til it dete mi es that additio al disclosu e is app op iate o equi ed.
This p ess elease does ot co stitute a offe to sell o the solicitatio of a offe to buy o shall the e be a y sale of secu ities i a y state o ju isdictio i which such offe , solicitatio o sale would be u lawful p io to egist atio o qualificatio u de the secu ities laws of a y such state o ju isdictio .
