XTAO receives approval for FSE listing

Executive Summary

• XTAO Inc. announced that its common shares have been accepted for listing on the Frankfurt Stock Exchange (FSE) under symbol LM8 and WKN: A41CMP.
• The company simultaneously closed a private placement of 200,000 shares at $1.00 USD per share, generating $200,000 USD in gross proceeds.
• The proceeds from this private placement are designated for the acquisition of TAO, and the transaction was conducted in conjunction with a previously announced $22.8 million USD financing, bringing total approximate gross proceeds to $23 million USD.

Key Details

• Listing Details: Common shares accepted for listing on the Frankfurt Stock Exchange; Symbol: LM8; WKN: A41CMP.
• Private Placement Size: 200,000 shares.
• Price Per Share: $1.00 USD.
• Gross Proceeds (Private Placement): $200,000 USD.
• Use of Proceeds: To acquire TAO.
• Hold Period: Four months plus one day from the date of issuance.
• Finders' Fees: None paid.
• Contextual Financing: This placement is part of a broader financing effort including a previously announced $22.8 million USD transaction, resulting in approximate total gross proceeds of $23 million USD.
• Strategic Rationale: The cross-listing aims to provide greater access to European investors and enhance global visibility.

Notable Quotes

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