Wire
Sadot Acquires TradeIQ IP Assets for $6 Million; Secures Up to $200 Million in Funding -- Shares Jump
Sadot (SDOT) has acquired intellectual property assets from Hong Kong-based Litial, marketed under the name TradeIQ, the supply chain company said in a Friday filing.The intellectual property assets, including an artificial intelligence-powered predictive software platform for commodity trading and risk management, were valued at $6 million, the company said.Additionally, Sadot agreed with an institutional investor to raise up to $100 million through senior secured convertible notes.Sadot also secured an equity line that allows it to sell around $100 million of its newly issued shares to an institutional investor over time, it said.Sadot shares were up over 89% in afternoon trading.Price: $27.00, Change: $+12.75, Percent Change: +89.47%
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