The companies expect to finalize a definitive agreement within the next 30 days. While specific capital commitments remain pending, management noted that they have already secured multiple non-binding investment indications from institutional backers and strategic partners.

Chief Executive Officer Caleb Carr stated that the transition to the public market will provide the necessary capital to accelerate R&D, broaden the existing product portfolio, and pursue new market opportunities. The transaction is slated to close in the fourth quarter of this year.