Recent Updates — PALX

Palomino Laboratories Inc. completed its acquisition of Vega Links, Inc., a development-stage semiconductor connectivity technology company, on July 31, 2026. Palomino issued an aggregate of 4,472,000 restricted shares of its common stock to Vega Links' stockholders at a fixed exchange ratio of 0.4 Palomino shares for each Vega Links share. The transaction was accounted for as a business combination with Palomino as the acquirer. Preliminary purchase price allocation recognized $25,712 in goodwill and a $20,657 intangible asset for in-process research and development (IPR&D). Vega Links' officers and directors resigned upon closing, replaced by Palomino designees Jason Tu and Richard Ogawa. The acquired entity had no revenue-generating operations as of its inception on January 21, 2026.

Palomino Laboratories completed its acquisition of Vega Links on July 31, 2026, by issuing 4,472,000 shares to acquire all 11,180,000 outstanding shares of the semiconductor company. The transaction establishes an exchange rate of 0.4 Palomino shares for each Vega Links share and includes assumed stock purchase agreements. Key executive appointments include Karthik Gopalakrishnan as Chief Technology Officer and Rajesh Radhamohan as Chief Product Officer to lead AI interconnect strategy. This acquisition expands Palomino's addressable market to over $60 billion by combining its gallium nitride MicroLED technologies with Vega Links' high-speed silicon design capabilities. Palomino Laboratories operates in the artificial intelligence infrastructure sector, developing next-generation connectivity solutions and chipsets for data centers.

Palomino Laboratories Inc. entered into a binding letter of intent on July 14, 2026, to acquire all outstanding shares of Vega Links, Inc. in an all-stock transaction. The deal involves the exchange of 4,472,000 shares of Palomino common stock for 11,180,000 shares of Vega common stock, representing a 1:2.5 exchange ratio. The acquisition aims to expand Palomino's addressable market from $6 billion to over $60 billion by integrating Vega's high-speed interconnect infrastructure expertise. An exclusivity period for due diligence and definitive agreement negotiations is set through September 30, 2026. Palomino Laboratories is an artificial intelligence interconnect technology company developing connectivity solutions for AI infrastructure.