AIAI Holdings, a diversified holding company with a licensed proprietary AI model, completed its direct listing on the Nasdaq on Thursday. Shares of common stock were sold by existing shareholders; the company did not raise new capital in connection with its listing.
The Registered Stockholders registered to sell up to 69.5 million shares. AIAI Holdings is being formed as a holding company which will acquire six companies, all for a deemed price of $20 per share of its common stock. The company opened for trading at $12 per share.
AIAI's proposed acquisitions include: C.C. Carlton Industries, a civil construction firm in Central Texas; Constellation Network, which provides blockchain protocol for data validation; GTC MediGuide LP, which provides telehealth services; the AI Research Corporation, which provides edge analytics; Vanguard Healthcare Solutions, which offers case management services to accident victims; and Bond Street, which remarkets office supplies and tech hardware. The company says it intends to create an AI-powered ecosystem through its licensed proprietary AI provided to it by M42, an investment firm founded by its Chairman, John Rochon.
The Dallas, TX-based company will trade on the Nasdaq under the symbol AIAI. on the deal.
