Robo.ai to Acquire 16.6% Stake in Aitos.io for $8.3 Million

MT Newswires Live

09/19

Robo.ai (AIIO) said in a regulatory filing Friday that it has agreed to acquire a 16.6% stake in technology company Aitos.io for $8.3 million.

The company will issue 5.18 million class B shares at $1.60 per share to Mobius Technology and Dreamwork International Investments, the selling shareholders, according to a filing with the US Securities and Exchange Commission.

Robo.ai will also issue 6 million class B shares to the Aitos.io core team as performance incentives and retention bonuses upon closing.

Shares of Robo.ai were up 14% in recent Friday premarket activity.

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