OpenWorld To Acquire Blocksight For Tokenization Programs Of Up To $1.13 Bln
(RTTNews) - OpenWorld, Inc. (OPNW), a technology-powered digital assets and blockchain innovation company, announced that it had signed a definitive merger agreement to acquire Blocksight Holdings Co.
The acquisition remains subject to customary closing conditions.
The proposed financing programs remain subject to due diligence, definitive agreements and other applicable conditions.
The company said Blocksight's AI agents are expected to automate deal structuring, asset verification, investor onboarding, daily reporting and investment servicing through its OpenWorld Enterprise platform.
The acquisition is expected to support its proposed tokenized financing programs of up to $1 billion with Meridian and up to $130 million with BeyondAI.
The proposed BeyondAI transaction involves financing backed by eligible intellectual property, including patents and software rights.
The proposed Meridian program aims to fund a distributed AI computing network powered by residential solar energy and battery storage, with an initial deployment planned for 10,000 homes.
The company said Blocksight's co-founders, Patrick Kim and Peter Hong, are expected to join OpenWorld after the acquisition closes.
OpenWorld closed trading 7.32% lesser at $2.6600 on the Nasdaq. In the overnight, the stock traded 16.17% higher at $3.0900.
