Daedalus Special Acquisition Corp. (Nasdaq: DSAC) announced on September 8, 2026, that it has signed a non-binding Letter of Intent (LOI) with HUBX Yazılım Hizmetleri Anonim Şirketi, a Turkish company. The agreement outlines a proposed business combination that would result in HubX becoming a publicly listed company on The Nasdaq Stock Market.
HubX is described as one of the largest consumer AI companies globally, based in Turkiye. The company focuses on designing, building, and scaling AI-powered consumer applications. HubX operates as a technology hub, utilizing proprietary methods and data to create next-generation applications. Its structure includes autonomous in-house studios, each specializing in a specific app vertical, supported by shared central resources such as marketing, data analytics, and engineering infrastructure.
According to the filing, HubX applications have been downloaded more than 600 million times. The company reaches more than 100 million users every month. HubX is also home to an award-winning AI research center, HubX AI Lab. The company was an early adopter of Google’s Tensor Processing Units (TPUs), which helped it reduce AI image generation costs by 40%.
In connection with the proposed transaction, HubX has received an investment of up to $75 million from Point72. The parties intend to negotiate and enter into definitive agreements for the business combination in good faith as soon as practicable. The transaction remains subject to the execution of definitive agreements, completion of due diligence, receipt of all necessary shareholder and regulatory approvals, and other customary closing conditions.
Daedalus Special Acquisition Corp. is a blank check company, or Special Purpose Acquisition Company (SPAC), formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company’s primary focus is to build a diversified portfolio of profitable AI-powered consumer apps.
