Dot Ai, Inc. (NASDAQ:DAIC) shares jumped 15.14% to $2.13 after the bell on Wednesday.
The gain in the stock of the Nevada-based Internet of Things (IoT) and AI-based SaaS company in the late trading session reverses a 4.15% regular-session decline.
Two Deals Behind Wednesday’s After-Hours
The rally in the extended trading session came as after the markets closed on Wednesday, Dot Ai disclosed two non-binding letters of intent totaling approximately $11 million in proposed transactions.
The company announced a non-binding term sheet for up to $5 million in convertible preferred stock, funded in three tranches, from an undisclosed investor. Proceeds target working capital and liability discharge during a strategic transition.
