Pulse Evolution Corp. (OTC Pink: PLFX) is engaged within the development of virtual human likeness technologies, which create hyper-realistic digital humans. Shares of the technology company are soaring 68.18%, through early trading on Friday, February 9, 2018. Over the past month, Pulse Evolution Corp. has seen average daily volume of 33,342 shares. However, volume of 256,478 shares or dollar volume of $51,295, has already exchanged hands on the day.
Shares of Pulse Evolution Corp. are surging today, after the company received an offer from EvolutionAI Corporation to purchase any or all unrestricted and free-trading common shares of PLFX from accredited investors only. The proposed share purchase will be conducted through a registered share exchange at a price of $1.10 per share of PLFX. Individual accredited investors hold around 119 million common shares of Pulse Evolution Corp., and have already begun the necessary paperwork for the share exchange. Here is the full press release detailing of the share exchange agreement:
HOBE SOUND, Fla., Feb. 8, 2018 /PRNewswire/ — Evolution|AI Corporation today unveiled specific pricing and structural elements of its Offer to purchase, from accredited investors only, all or any portion of the unrestricted, free-trading common shares of Pulse Evolution Corporation (OTC:PLFX) common stock, currently on deposit in the ‘public float’, through a registered share exchange for $1.10 per share.
Evolution|AI Corporation (the “Company”) also provided today an update relating to its prior offer to purchase restricted shares in a transaction value at $0.62 per share. Pulse Acquisition Corporation (“PAC”) was created by the principals of Evolution|AI, to consolidate the restricted shares of parties that responded favorably to the Company’s October 2017 offer. Since then, individual accredited investors, holding approximately 119 million common shares of Pulse in the aggregate, have entered into the process of documenting and closing the restricted share exchange. The exchange transaction, representing at least a majority interest in Pulse, is expected to close on, or before February 28, 2018.
Evolution|AI Corporation now, directly for its own account, wishes to acquire up to 14 million shares of unrestricted, fully registered common stock, of which the Company believes approximately 8 million shares are currently on deposit with brokerage firms in the public float. The basic terms of the current offer (the “Registered Exchange”) are as follows:
Accredited Investors who are holders of common stock of Pulse Evolution Corporation, if interested in the above outlined offer, are encouraged to contact the Company directly via Offer@EvolutionAI.com. This Offer to Purchase shall remain outstanding until its expiration at 5:00pm on Wednesday, February 28, 2018.
About Evolution|AI Corporation
Evolution|AI Corporation is a development stage company focused on the adaptation and development of human animation technology to enable diverse Artificial Intelligence platforms to interact with consumers in the relatable form of a human face. Founded by Mr. John Textor, an established and globally recognized pioneer in the field of hyper-realistic human animation, Evolution|AI intends to develop a robust library of fully functional human faces, and human characters, that will allow people to communicate with leading artificial intelligence platforms, just as they would expect to communicate with another human being.
Evolution|AI, which is also a licensee of Pulse Evolution technology, recently acquired a robust portfolio of technology, acquired from the legendary visual effects company Digital Domain, representing substantially all of the technology developed in connection with launch and operation of Digital Domain’s Florida animation studio. With the benefit of both the Digital Domain animation and studio technology portfolio, and the market leading human animation technology licensed from Pulse Evolution Corporation, Evolution|AI is uniquely positioned to be a true pioneer in the globally significant industry that emerging through the deployment of artificially intelligent digital humans in society, commerce and education.