Evolution|AI Corporation completed the acquisition of 58% stake in Pulse Evolution Corporation from accredited investors.
August 05, 2018
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Evolution|AI Corporation made an offer to acquire 58% stake in Pulse Evolution Corporation (OTCPK:PLFX) from accredited investors on October 30, 2017. Under the terms of the offer, Evolution|AI offered to issue its restricted common stock in exchange of up to 150 million restricted common stock of Pulse Evolution from certain individual investors holding restricted shares valuing the Pulse Evolution shares at $0.62 per share. As on November 22, 2017, Evolution|AI expanded the offer for Pulse Evolution Corporation, included unrestricted shares and Free Trading common shares, subject to certification of accredited investor status and also the offer per share for unrestricted common shares increased to $1.1 million. As of February 8, 2018, Evolution|AI Corporation provided election for $1.1 per share in cash or $0.78 shall be paid in form of share of Evolution|AI Corporation. As of February 8, 2018, individual accredited investor, holding approximately 119 million common shares of Pulse have entered into the process of documenting and closing the restricted share exchange, and is expected to close on February 28, 2018. Following the offer, Pulse Evolution will remain as a publicly traded company while Evolution|AI Corporation will become a public reporting company. The offer expires on November 30, 2017, unless extended. As of March 27, 2018, Evolution|AI revised the offer per share from $1.1 per share to $0.83 per share in cash. Under the terms of the agreement, Evolution|AI will acquire 119.3 million restricted stock. The transaction is subject to Evolution|AI Corporation attaining a public reporting company status via an effective merger, effectiveness of the Evolution|AI Corporation’s registration statement and certain other conditions. The offer is not conditioned on the purchase of a minimum number of shares common stock of Pulse Evolution.
Evolution|AI Corporation completed the acquisition of 58% stake in Pulse Evolution Corporation (OTCPK:PLFX) from accredited investors on August 6, 2018.
Pulse Evolution Corporation is engaged in developing human animation technology for applications of digital humans in entertainment and other emerging market segments, management, and administration team and inhouse production talent. The Company provides hyper-realistic digital humans computer generated assets that appear to be human and can perform in live shows, virtual reality, augmented reality, holographic, three dimensional (3D) stereoscopic, Web, mobile, interactive, and artificial intelligence applications. It offers artificial intelligence, which enables human form to interactive artificially intelligent computer beings that is common in society, providing useful information and services to people in diverse industries, such as education, health care, telecommunications, defense, transportation, and entertainment. Its wholly owned subsidiaries include The Kopp Initiative, LLC, Pulse Digital Human Labs, Pulse Japan, and Pulse Biologic.