CID HoldCo, Inc., doing business as Dot Ai (Nasdaq: DAIC), announced the completion of an all-stock acquisition of Envoy Technologies, Inc. on October 9, 2026. The transaction was valued at approximately $65 million based on an agreed reference price of $6.00 per share of Dot Ai common stock. Under the agreement, Dot Ai acquired 100% of Envoy’s outstanding capital stock from BladeRanger Ltd. (TASE: BLRN). Envoy is an electric vehicle fleet technology and EV-sharing company that provides all-electric carsharing as a premium amenity for residential communities, hotels, and campus properties across the United States.
The acquisition consideration consisted of 10,833,333 shares of Dot Ai common stock, calculated on an as-converted, fully diluted basis. At the closing, BladeRanger received 233,543 shares of common stock and 8,433,123 shares of a newly authorized Series C Convertible Non-Redeemable Preferred Stock. Additionally, the Company issued 2,166,667 shares of common stock to Blink Charging Co. (Nasdaq: BLNK) upon satisfaction of specific conversion conditions. Blink held a $12.5 million convertible promissory note issued by Envoy, which was amended in connection with the closing and remains outstanding. The Blink note is scheduled to convert into common stock following stockholder approval and the effectiveness of a registration statement.
Dot Ai stated that the transaction addresses its stockholders’ equity requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1). The Company believes it meets the minimum $2.5 million stockholders’ equity requirement and will submit evidence of compliance to the Nasdaq Hearings Panel. The Board of Directors approved the transaction, and Dot Ai intends to seek stockholder approval for the issuance of common stock upon conversion of the Series C Preferred Stock, with a target date of January 31, 2027.
