Pheton Holdings Ltd. has announced its entry into a Stock Purchase Agreement with iTonic Corporation and certain shareholders to acquire 51% of iTonic's outstanding shares. As part of the agreement, Pheton Holdings will issue 4,000,000 newly issued Class A ordinary shares and warrants for 3,000,000 additional shares to the selling shareholders. The Consideration Shares are subject to lock-up agreements, with release tied to performance milestones related to iTonic's sales volume and revenue, evaluated quarterly starting January 2026. The transaction aims to leverage iTonic's home health platform, which integrates medication dispensing, supply chain management, virtual care, and patient monitoring.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pheton Holdings Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-082559), on August 29, 2025, and is solely responsible for the information contained therein.