Autozi Signs Letter of Intent for Reverse Takeover With Unnamed $300M Private Company

The proposed deal would materially expand Autozi’s public market footprint while it undergoes due diligence, financing and regulatory review.

Overview

Autozi announced on Friday that it has signed a non-binding letter of intent to pursue a reverse takeover with an undisclosed privately held operating company.
Under the current framework the private counterparty is preliminarily valued at about $300 million and the combined Nasdaq-listed company is estimated near $320 million.
The LOI is not a final agreement and the transaction depends on due diligence, negotiation of definitive documents, financing and required board, shareholder and regulatory approvals.
Autozi’s shares jumped about 7.56% to roughly $1.72 on the announcement as investors reacted to the potential scale-up for the Nasdaq-listed firm.
Key terms and the counterparty’s identity remain confidential, Autozi is targeting a year-end close, and existing shareholders would keep equity in the combined company while facing possible dilution and regulatory scrutiny.