Pheton Holdings Closes Acquisition of Majority Stake in iTonic Corporation

Reuters12-06 05:05

Pheton Holdings Closes Acquisition of Majority Stake in iTonic Corporation

Pheton Holdings Ltd. has completed its acquisition of a 51% stake in iTonic Corporation, a U.S.-based company specializing in integrated home health AI solutions. The deal involved the issuance of 4,000,000 newly issued Class A ordinary shares to certain iTonic shareholders, subject to performance milestones, along with warrants to purchase up to 3,000,000 additional Class A shares at $3.10 per share. The warrants will become exercisable in tranches as iTonic achieves specific quarterly or annual performance targets. The transaction closed on November 25, 2025, with iTonic now officially part of Pheton Holdings, supporting the company's expansion into the U.S. home health market and strengthening its portfolio of AI-driven healthcare solutions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pheton Holdings Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9597707-en) on December 05, 2025, and is solely responsible for the information contained therein.

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