(RTTNews) - CDT Equity Inc. (CDT), Friday announced an agreement to acquire a 20 percent equity stake in Sarborg Limited, an artificial intelligence signature intelligence business serving multiple industries.
The $115 million investment strengthens an existing collaboration where Sarborg has supported evaluating CDT's clinical assets using its proprietary signature analysis and AI tools.
The consideration will be settled through the issuance of 598,005 new common shares and 109,978,918 pre-funded warrants, subject to shareholder approval.
An additional $8 million deferred payment is tied to future fundraising activities.
CDT is currently trading pre-market at $1.22, up $0.29 or 31.30 percent on the Nasdaq.
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