Dot Ai completes $65 million all-stock acquisition of Envoy Technologies
DAIC•Dot Ai completed an all-stock acquisition of Envoy Technologies valued at about $65 million, using a $6.00-per-share reference price and paying with common stock and Series C Convertible Preferred Stock.
1. Acquisition terms
Dot Ai, operating as CID Holdco, completed the acquisition of Envoy Technologies from BladeRanger. The transaction was valued at about $65 million, based on a $6.00-per-share reference price for Dot Ai common stock.
2. Business and ownership
Envoy operates an electric-vehicle carsharing business across the U.S., focused on residential communities, hotels, resorts and campus properties. An amended $12.5 million convertible note held by Blink Charging remains outstanding, with conversion into Dot Ai common stock tied to conditions. BladeRanger is expected to hold a majority of Dot Ai common stock on an as-converted basis following the conversions.
