Dot Ai Signs Letters of Intent for Investment, Operating Business Sale
MT Newswires Live
Jun 10
Dot Ai (DAIC) said Wednesday that it has signed a non-binding letter of intent with an unidentified investor for a convertible preferred stock investment of up to $5 million.
The company said the agreement also includes a separate non-binding letter of intent to sell a portion of its operating business for $6 million in cash and the assumption of up to $3 million in existing liabilities.
Dot Ai said the investor could also provide additional funding to support strategic initiatives.
Shares of the company were down 3% in recent Wednesday premarket activity.
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