Robo.ai implements 1-for-20 reverse stock split to optimize capital structure

Robo.ai Inc. (NASDAQ: AIIO) announced the implementation of a 1-for-20 reverse stock split of its ordinary shares, according to a company statement. The artificial intelligence technology company said the move aims to optimize its capital structure and reduce market compliance-related concerns.

The Dubai-based company stated that fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share to protect existing shareholders' interests. Through recent corporate restructuring and the spin-off of debt-bearing subsidiaries, Robo.ai said it is working to reduce net debt levels.

In its data services business, the company reported that its joint venture operations with DaBoss delivered an initial batch of data on February 26, building on a secured order of 30,000 hours of data. The business focuses on providing artificial intelligence training data support and data services for smart devices and robotics.

Robo.ai said it is expanding its sales network through an ongoing acquisition of a controlling stake in ChinaSky, which conducts automobile sales operations in overseas markets. The company stated this segment has generated actual sales and established commercial operations.

The company registered on December 19 to participate in the pre-restructuring of Shanghai Jidu Automobile Co., Ltd., with the first creditors' meeting held on January 12. Robo.ai said the objective is to introduce a smart electric vehicle product platform and strengthen capabilities in the smart mobility sector.

Robo.ai reported it is engaged in discussions with government entities and partners in the Middle East region covering smart mobility, unmanned systems, smart logistics, and city-level applications.

The company said its audit and finance teams are preparing the annual financial report for fiscal year 2025, with plans to issue an earnings announcement within the next month.

You May Also Be Interested In

• onsemi downgraded by TD Cowen after Synaptics deal clouds growth story
• Magnolia Said In Lead To Acquire Wildfire For Over $4 Billion - Bloomberg
• TNL Mediagene faces Nasdaq delisting over bid price and equity rules