Pioneer AI Foundry Venture Partner, Kondor AI, to Acquire a Controlling Interest of Ora Technology in All Share Offer
Pioneer AI Foundry Inc. (CBOE: JPEG) has announced that its venture partner, Kondor AI PLC, will acquire a controlling interest (over 50%) of Ora Technology PLC through an all-share offer. Under the agreement terms, Ora shareholders will receive 0.9848 new Kondor shares for each Ora share held.
The strategic merger aims to create a leading AI sector entity with several expected benefits:
- Enhanced product portfolio through integration of Ora's technological solutions
- Market expansion opportunities
- Operational synergies in R&D and administration
Additionally, Pioneer has engaged ICP Securities Inc. to provide automated market making services for a monthly fee of C$7,500. The initial agreement starts March 24, 2025, for four months, with automatic one-month renewals unless terminated by either party.
Pioneer AI Foundry Inc. (CBOE: JPEG) ha annunciato che il suo partner di venture, Kondor AI PLC, acquisirà una partecipazione di controllo (oltre il 50%) di Ora Technology PLC tramite un'offerta totalmente azionaria. Secondo i termini dell'accordo, gli azionisti di Ora riceveranno 0.9848 nuove azioni Kondor per ogni azione Ora detenuta.
La fusione strategica mira a creare un'entità di riferimento nel settore dell'IA con diversi benefici attesi:
- Portafoglio prodotti migliorato grazie all'integrazione delle soluzioni tecnologiche di Ora
- Opportunità di espansione del mercato
- Sinergie operative in R&D e amministrazione
Inoltre, Pioneer ha ingaggiato ICP Securities Inc. per fornire servizi di market making automatizzati per una tariffa mensile di C$7,500. L'accordo iniziale inizia il 24 marzo 2025, per quattro mesi, con rinnovi automatici di un mese a meno che una delle parti non decida di terminare l'accordo.
Pioneer AI Foundry Inc. (CBOE: JPEG) ha anunciado que su socio de inversión, Kondor AI PLC, adquirirá una participación de control (más del 50%) de Ora Technology PLC a través de una oferta totalmente en acciones. Según los términos del acuerdo, los accionistas de Ora recibirán 0.9848 nuevas acciones de Kondor por cada acción de Ora que posean.
La fusión estratégica tiene como objetivo crear una entidad líder en el sector de IA con varios beneficios esperados:
- Mejora del portafolio de productos a través de la integración de las soluciones tecnológicas de Ora
- Oportunidades de expansión de mercado
- Sinergias operativas en I+D y administración
Además, Pioneer ha contratado a ICP Securities Inc. para proporcionar servicios de creación de mercado automatizados por una tarifa mensual de C$7,500. El acuerdo inicial comienza el 24 de marzo de 2025, por cuatro meses, con renovaciones automáticas de un mes a menos que cualquiera de las partes decida terminarlo.
Pioneer AI Foundry Inc. (CBOE: JPEG)는 그들의 벤처 파트너인 Kondor AI PLC가 Ora Technology PLC의 지배적인 지분(50% 이상)을 주식 전량 제안을 통해 인수할 것이라고 발표했습니다. 계약 조건에 따라 Ora 주주들은 보유한 Ora 주식 1주당 0.9848개의 새로운 Kondor 주식을 받게 됩니다.
이 전략적 합병은 여러 가지 예상되는 이점을 가진 AI 분야의 선도적인 엔티티를 만드는 것을 목표로 합니다:
- Ora의 기술 솔루션 통합을 통한 제품 포트폴리오 강화
- 시장 확장 기회
- R&D 및 관리에서의 운영 시너지
또한, Pioneer는 ICP Securities Inc.를 고용하여 월 C$7,500의 요금으로 자동화된 시장 조성 서비스를 제공받습니다. 초기 계약은 2025년 3월 24일부터 시작되며, 4개월 동안 유효하며, 어느 한 쪽이 계약을 종료하지 않는 한 자동으로 한 달씩 갱신됩니다.
Pioneer AI Foundry Inc. (CBOE: JPEG) a annoncé que son partenaire de capital-risque, Kondor AI PLC, va acquérir une participation de contrôle (plus de 50%) dans Ora Technology PLC par le biais d'une offre entièrement en actions. Selon les termes de l'accord, les actionnaires d'Ora recevront 0,9848 nouvelles actions Kondor pour chaque action Ora détenue.
La fusion stratégique vise à créer une entité de premier plan dans le secteur de l'IA avec plusieurs avantages attendus :
- Amélioration du portefeuille de produits grâce à l'intégration des solutions technologiques d'Ora
- Opportunités d'expansion du marché
- Synergies opérationnelles en R&D et en administration
De plus, Pioneer a engagé ICP Securities Inc. pour fournir des services de création de marché automatisés pour des frais mensuels de 7 500 C$. L'accord initial commence le 24 mars 2025, pour une durée de quatre mois, avec des renouvellements automatiques d'un mois, sauf résiliation par l'une des parties.
Pioneer AI Foundry Inc. (CBOE: JPEG) hat bekannt gegeben, dass sein Venture-Partner, Kondor AI PLC, eine kontrollierende Beteiligung (über 50%) an Ora Technology PLC durch ein Angebot in Aktien erwerben wird. Gemäß den Bedingungen des Vertrags erhalten die Ora-Aktionäre 0,9848 neue Kondor-Aktien für jede gehaltene Ora-Aktie.
Die strategische Fusion zielt darauf ab, eine führende Einheit im KI-Sektor zu schaffen, die mehrere erwartete Vorteile mit sich bringt:
- Erweiterung des Produktportfolios durch Integration der technologischen Lösungen von Ora
- Markterweiterungsmöglichkeiten
- Betriebliche Synergien in F&E und Verwaltung
Zusätzlich hat Pioneer ICP Securities Inc. beauftragt, automatisierte Markt-Management-Dienste für eine monatliche Gebühr von C$7.500 bereitzustellen. Der ursprüngliche Vertrag beginnt am 24. März 2025 und läuft vier Monate, mit automatischen einmonatigen Verlängerungen, es sei denn, eine der Parteien kündigt.
- Strategic acquisition to create a leading AI sector entity
- Potential operational synergies in R&D and administration
- Enhanced market presence and product portfolio expansion
- Share dilution for existing Ora shareholders (0.9848 ratio)
- Additional monthly expense of C$7,500 for market making services
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2025) - Pioneer AI Foundry Inc. (CBOE: JPEG) ("Pioneer" or the "Company") is excited to announce that its venture partner, Kondor AI PLC ("Kondor") and Ora Technology PLC ("Ora") have agreed on the terms of a recommended all-share offer, under which Kondor will acquire more than
Transaction Details
Under the terms of the offer, each Ora shareholder will receive 0.9848 new Kondor shares for every Ora share held. This exchange ratio has been agreed upon by the boards of both companies and reflects a mutual commitment to fostering growth and innovation in the AI industry. View the full announcement here.
Strategic Rationale
The combination of Kondor and Ora is expected to yield significant benefits, including:
- Enhanced Product Portfolio: Integrating Ora's advanced technological solutions with Kondor's existing offerings will result in a more comprehensive suite of AI products and services.
- Market Expansion: The acquisition will facilitate entry into new markets and strengthen the presence in existing ones, leveraging the combined expertise and resources of both companies.
- Operational Synergies: The merger is anticipated to generate operational efficiencies, optimizing research and development efforts, and streamlining administrative functions.
Darcy Taylor, CEO of Pioneer commented, "This acquisition represents a significant milestone in our venture partners collective ecosystem. By joining forces, Kondor and Ora are poised to accelerate AI Agent innovation, expand market reach, and deliver enhanced value to its consumer offering. Congratulations to both organizations for this synergistic partnership."
Pioneer AI Foundry Engages Market Maker
The Company also announces that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the Cboe Canada Inc. and other applicable legislation. ICP will be paid a monthly fee of C
ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
ABOUT KONDOR AI PLC
Kondor AI PLC, incorporated on November 1, 2021, is a visionary AI company dedicated to developing cutting-edge artificial intelligence solutions. The company's shares are traded on the Access segment of the Aquis Stock Exchange Growth Market under the symbol: KNDR. For more information visit: https://www.kondor.ai/.
ABOUT ORA TECHNOLOGY PLC
Ora Technology PLC is a technology company specializing in innovative solutions across various sectors. Known for its commitment to excellence and forward-thinking approach, Ora has established itself as a key player in the technology landscape. For more information visit: https://plc.oracarbon.com/.
ABOUT PIONEER AI FOUNDRY INC.
Pioneer AI is a next-generation agentic AI venture builder, primarily operating through its wholly owned subsidiary Crowdform - an AI agent technology and intellectual property development company. By leveraging a venture studio and technology incubator model, Pioneer AI develops and scales revenue-generating agentic-AI-driven technologies at the intersection of AI agents and DeFi/crypto, leveraging the Solana ecosystem. Pioneer specializes in autonomous revenue-generating AI agent solutions, which are primarily developed within its wholly owned operating subsidiary Crowdform.
In addition, Pioneer has formed successful partnerships with leading AI companies globally, with several projects fully deployed and in market delivered through operating companies in which Pioneer is a significant shareholder. These partnerships focus on the intersection of revenue-generating agentic AI and DeFi.
For additional information, visit www.p10neer.com or www.sedarplus.ca.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-Looking statements consist of statements that are not purely historical, and such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245787
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