CID HoldCo, Inc. entered into a binding term sheet to acquire 100% of Envoy Technologies, Inc., issuing approximately 67.3% of its post-closing fully diluted capitalization in consideration, including Series C Preferred Stock and Common Stock. The company also issued an unsecured convertible promissory note with a $550,000 principal amount to H Capital Ventures Management Consultancies Co. LLC. Additionally, the company settled outstanding debt obligations totaling approximately $1.09 million by converting them into 2,815,506 shares of Common Stock and transferring assets to LHT I, LLC. The filing also discloses a Nasdaq Hearings Panel appearance regarding compliance with continued listing requirements for market value and timely filings. CID HoldCo operates in the technology sector, focusing on electric vehicle mobility solutions.
