SOLAI agrees to buy control of Singapore AI developer in shift from crypto mining

SOLAI (NYSE:SLAI) has reached an agreement to acquire a controlling interest in a Singaporean artificial intelligence developer, accelerating its corporate pivot away from cryptocurrency mining operations toward an AI-first infrastructure platform.

The company, which trades on the New York Stock Exchange under the ticker SLAI, entered into a definitive share exchange agreement with AIPICO Global to purchase a 51% equity stake in NEURALAND.

Under the terms of the transaction, SOLAI will issue 1,162,025,300 new Class A ordinary shares to fund the acquisition.

The shares are valued at $0.0079 apiece, which converts to $0.79 per American Depositary Share (ADS).

The equity distribution represents a total transaction consideration of approximately $9.18 million.

The transaction is scheduled to close on or about June 2, 2026, delivering an immediate expansion to SOLAI's technological capabilities.

To ensure equity stability post-acquisition, the newly minted Class A ordinary shares will be bound by a regulatory lock-up period lasting between 6 and 36 months under standard Regulation S provisions.

Following the completion of the exchange, NEURALAND's financial and technical assets will integrate into SOLAI's broader commercial operating baseline.