Dot Ai Shares Fall 4.15% on Wednesday Then Rise 15.14% After-Hours on Two Non-Binding $11M Letters of Intent

Dot Ai, Inc. 13 in after-hours trading on June 10 after the company disclosed two non-binding letters of intent totaling approximately $11 million in proposed transactions. 15% during the regular session that day.

One letter of intent covers a non-binding term sheet for up to $5 million in convertible preferred stock funded in three tranches from an undisclosed investor. Proceeds are targeted for working capital and liability discharge during a strategic transition.

The second letter of intent involves the divestment of a portion of the company’s operating assets to a strategic buyer for up to $6 million in cash, with the buyer also assuming roughly $3 million in liabilities.

Both letters of intent were announced after markets closed on June 10.