CID HoldCo Inc (DAIC) News & EventsDAICCID HoldCo Inc

CID HoldCo Inc Trading Halted Due to Volatility Trading Pause

CID HoldCo Inc trading halted, volatility trading pause

CID HoldCo Signs $6M Convertible Preferred Stock Investment Agreement

CID HoldCo announced that, following its previously announced review of strategic alternatives, it has entered into a definitive securities purchase agreement with certain investors providing for a convertible preferred stock investment of up to $6M, comprising $2M of Series AA Convertible Non-Redeemable Preferred Stock and $4M of Series B Convertible Non-Redeemable Preferred Stock. The securities purchase agreement also provides that, following the closing of the Series AA Preferred Stock investment, the Company's Board of Directors will establish a special committee to evaluate a proposed sale of certain operating assets of the Company pursuant to a previously executed letter of intent.

Dot Ai Fully Retires $867,000 Convertible Notes

Dot Ai announced a series of actions to fortify its balance sheet and simplify its capital structure, including the retirement in full of its outstanding secured convertible promissory notes held by White Lion Capital, in the aggregate principal amount of approximately $867,000. The retirement releases the security interests that secured the notes, eliminates the associated debt obligation and further simplifies the Company's capital structure. In addition, as previously contemplated in the previously announced non-binding LOI, a potential new investor has agreed to provide $500,000 of new capital to the Company through an additional secured convertible note. This new capital provides Dot Ai with incremental resources to support its operating initiatives and general corporate purposes.