Dot Ai, a leading startup in asset intelligence technology, and ShoulderUp Technology Acquisition Corp. (NYSE: SUAC), a special purpose acquisition company (SPAC), have announced the filing of a Form S-4 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in connection with their proposed business combination.
“This is a significant step in our path to becoming a public company,” said Edmund Nabrotzky, CEO of Dot Ai. “We’re seeing strong demand for our track-and-trace solutions, and this merger will help us scale our AI-powered asset management and logistics platform. With the backing of major enterprise customers, we’re positioned for substantial growth in the coming years.”
Phyllis W. Newhouse, CEO of ShoulderUp, added, “Dot Ai’s patented technology integrates asset and workflow management, offering real-time, AI-driven insights that bridge the gap left by traditional RFID and video surveillance systems. Given its track record of innovation and success, we’re confident Dot Ai will lead in this growing market.”
Business Combination Details
Dot Ai and ShoulderUp entered into a business combination agreement on March 18, 2024, which is expected to close in the second half of 2024, pending regulatory approvals. Upon completion, the combined company is expected to be listed on Nasdaq under the ticker symbol “DAIC.”
Additional details, including the business combination agreement, will be available in a Form 8-K filed by ShoulderUp with the SEC at www.sec.gov.
About Dot Ai
Dot Ai is revolutionizing asset management with its innovative SaaS platform, offering IoT-powered tracking solutions. The company uses advanced AI engines, 5G RF, BLE technology, and cloud integration to provide real-time asset visibility and predictive analytics, enabling organizations to optimize their logistics, supply chains, and security. Learn more at https://daic.ai.
About ShoulderUp Technology Acquisition Corp.
ShoulderUp is a SPAC focused on driving transformative business combinations, aiming to merge with companies poised for innovation and growth. Through mergers, asset acquisitions, and reorganizations, ShoulderUp seeks to redefine industry landscapes and deliver shareholder value.
Important Information About the Business Combination
This press release is not an offer to sell or exchange securities. In connection with the transaction, Dot Ai and ShoulderUp will file relevant documents with the SEC, including a proxy statement/prospectus, which will be sent to ShoulderUp shareholders. Investors are encouraged to review these documents, once available, at www.sec.gov
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