AI-Powered Real Estate Marketplace Nobul AI To Acquire Medical-Diagnostics Company Check-Cap
Portfolio Pulse from Vandana Singh
Nobul AI Corp has agreed to acquire Check-Cap Ltd (NASDAQ:CHEK), with Nobul shareholders becoming the majority holders of the combined company. The merger aims to create a public company focused on an AI-driven fintech marketplace and enhancing traditional companies through AI, headquartered in Toronto, Canada. The combined entity plans to apply for listing on the NASDAQ and TSX, with Nobul's executive team leading the new company. The acquisition is seen as a strategic move to deliver value to shareholders and leverage Nobul's M&A expertise. Check-Cap, a clinical-stage medical diagnostics company, is known for developing C-Scan, a preparation-free colorectal cancer screening test.
March 26, 2024 | 1:13 pm
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Check-Cap Ltd (NASDAQ:CHEK) shares surged 36.9% in premarket trading following the announcement of its acquisition by Nobul AI Corp. The merger is expected to leverage Check-Cap's medical diagnostics technology with Nobul's AI-driven fintech platform.
The significant premarket surge in CHEK shares indicates a positive market reaction to the acquisition news. The merger's focus on combining AI-driven fintech with Check-Cap's medical diagnostics technology, particularly the C-Scan for colorectal cancer screening, is seen as a strategic move to enhance shareholder value and expand the company's market potential. The positive impact on CHEK's stock price in the short term is attributed to investor optimism about the merger's potential to create a more diversified and technologically advanced company.
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