DatChat Announces Planned Spin-Off Of Its Habytat AI Gaming Platform Business Into A New Standalone Public Company
Portfolio Pulse from Benzinga Newsdesk
DatChat (NASDAQ:DATS) plans to spin off its Habytat AI Gaming platform business into a new standalone public company. DatChat, which owns about 75% of SmarterVerse, Inc., will distribute its shares to DatChat shareholders. The spin-off aims to focus on DatChat's core social media ecosystem, My Family Museum, and unlock shareholder value. The distribution is subject to SEC registration and regulatory approvals. DatChat recently launched HabyPets, an AI-powered game, and a developer program on its Habytat metaverse.
January 16, 2024 | 2:01 pm
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DatChat plans to spin off its Habytat AI Gaming platform into a new public company, distributing shares to existing shareholders. This move is intended to concentrate on the My Family Museum and unlock shareholder value, subject to regulatory approvals.
The spin-off of Habytat AI Gaming could be seen as a positive move for DatChat, as it allows the company to concentrate on its core business and potentially unlock shareholder value. The distribution of shares to existing shareholders could be perceived as a direct benefit, although the impact will depend on the success of the spin-off and the market's reception of the new standalone company. The announcement is highly relevant to DatChat and is important for investors as it could lead to a revaluation of the company's stock. The confidence score reflects the uncertainty regarding the completion of the spin-off and the future performance of both entities.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100