SAIHEAT Enters Into Definitive Merger Agreement With Canopy Wave
SAIH•Transaction terms
SAIHEAT said the merger is based on a pre-money equity valuation of $60 million for Canopy Wave and $40 million for SAIHEAT.
Former Canopy Wave stockholders are expected to own 54.19% of the economic interests and 78.44% of the voting power in the combined company.
Structure of the deal
SAIHEAT said the deal will be effected through the issuance of new SAIHEAT Class A and Class B ordinary shares to Canopy Wave's shareholders.
Merger agreement announced
SAIHEAT Ltd. (SAIH.O) said it has entered into a definitive merger agreement with Canopy Wave to build a global AI inference platform.
The combined company is expected to be renamed Canopy Wave and is expected to trade as CWAV.
