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Dot Ai Announces Two Letters of Intent for Strategic Preferred Stock Investment and to Sell a Portion of its Operating Business

DAIC
  • Dot Ai, Inc. (NASDAQ: DAIC) announced two non-binding letters of intent following a strategic alternatives review.
  • The company entered an agreement for a potential $5 million investment in convertible preferred stock funded in three tranches.
  • Proceeds from the investment will support working capital, discharge liabilities, cover transaction expenses, & potentially return value to shareholders.
  • A separate letter of intent covers the sale of a portion of the operating business for up to $6 million in cash.
  • The asset sale includes the assumption of up to $3 million in existing liabilities by the buyer.
  • The buyer intends to fund a $500,000 secured convertible note as a down payment to support working capital & secure exclusivity.
  • The company will retain certain operating units within the listed entity while the buyer retains & supports the existing management team.
  • Cohen & Company Capital Markets served as the exclusive financial advisor during the strategic alternatives process.
  • Transaction completion is subject to definitive agreements, due diligence, regulatory approvals, & continued Nasdaq listing compliance.
  • The proposed transactions aim to strengthen the balance sheet, ensure Nasdaq compliance, & position the company for value-creating initiatives.