Robo.ai (NASDAQ: AIIO) stock jumps 19% on a proposed $60M all-stock acquisition of QC Capital to expand its global AI robotics platform.
Robo.ai Inc.
(NASDAQ:AIIO) announced Thursday that it has signed an agreement to acquire QC Capital Limited in a proposed $60 million all-stock deal.
The acquisition supports the company's plan to expand its global artificial intelligence robotics network platform.
Following the announcement, the stock jumped nearly 19%.
The purchase price will be paid in newly issued Class B ordinary shares.
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