AIBotics acquires NovaCore Labs assets from PlayJamaica
AIBT•AIBotics completed its acquisition of NovaCore Labs’ operating assets from PlayJamaica for 22,500 Series B preferred shares valued at $225,000. The agreement allows up to $3 million in additional preferred shares over four years, tied to revenue milestones.
1. Acquisition terms
AIBotics completed its acquisition of NovaCore Labs’ operating assets from PlayJamaica. Consideration included 22,500 shares of Series B Preferred Stock with an aggregate stated value of $225,000, with up to $3 million in additional preferred stock available over four years, subject to revenue milestones.
2. Assets and milestones
Cumulative gross-revenue milestones of $500,000, $1.5 million, $3 million and $5 million each trigger $750,000 in additional preferred-stock consideration. The acquired assets include robotics and drone equipment, mapping capabilities and intellectual property, supporting AIBotics’ expansion across the Caribbean.
