DatChat Inc Says Subject To Board Approval, DatChat Will Distribute Its Shares Of SmarterVerse To Shareholders
Portfolio Pulse from Benzinga Newsdesk
DatChat Inc. (NASDAQ: DATS) plans to distribute its shares of SmarterVerse to shareholders, subject to board approval. SmarterVerse, which operates the Habytat AI Gaming platform and metaverse, is expected to become a standalone public company. The distribution is contingent on SEC registration and regulatory approvals. DatChat's CEO Darin Myman highlighted the company's progress, including ten issued patents, the launch of Habytat AI social gaming platform, and the upcoming My Family Museum platform. The spin-off aims to unlock value and accelerate growth.
January 16, 2024 | 3:33 pm
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DatChat Inc. plans to distribute shares of SmarterVerse to its shareholders, potentially making SmarterVerse a standalone public entity. The CEO's letter emphasizes technological advancements, new product launches, and a strong financial position.
The announcement of a potential spin-off and distribution of shares of SmarterVerse to DatChat shareholders could be perceived positively by the market, as it may unlock shareholder value and provide additional growth opportunities. The CEO's optimistic outlook and the company's technological advancements could further bolster investor confidence in the short term.
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