Hired CIM SECURITIES, LLC as the lead distributor and raised funds $3 million
Miami, June 23, 2023 /PRNewswire/ — Kinetic Group Inc. (OTC: KNIT), www.knitgrp.com, The technology holding company has signed a memorandum of understanding to acquire a highly profitable artificial intelligence software company that provides accurate AI prediction software for the digital transformation of enterprises.
Through this acquisition, KNIT will provide businesses with customizable artificial intelligence programming to improve decision making, reduce risk and improve operations. Tailored solutions such as digital twins, smart assets, AI predictive analytics, and metaverse engagement are designed to significantly improve productivity. KNIT is a pioneer in providing a suite of AI business services to both the private and public sectors.
Management expects to achieve first-year EBITDA after acquisition US$3.2 million. This target serves the world’s largest oil and gas companies, major industrial and transportation businesses.
Sales of Digital Transformation Services $6.8 trillion AI contribution to the global economy by 2027¹ $15.7 trillion By 2030².
KNIT has hired CIM Securities LLC as its lead placement agent. $3 million Preference is given to procurements structured as 8% PIK Dividend Series A Convertible Participating.Priority offers 1.5x clearing priority and is priced at $1.00 per preferred stock. The funds will be used for international sales promotion and the deployment of a subscription-based revenue model.
Ana Maria Mendez, founder and chairman of KNIT, said, “We are thrilled to acquire a leading player in the AI space that provides a full suite of business digital transformation services. We believe that AI solutions will transform the business environment in the near term. We believe that AI services will enable companies to make optimal decisions based on improved data and analytics.KNIT hopes to become the leading company in AI services in the years to come. I have.”
CIM Securities is an investment bank and venture capital firm serving growing mid-market companies. CIM Securities is headquartered in Centennial. colorado.
The investor presentation, brief and cover letter are available on the Investor Relations section of the website at www.knitgrp.com.
Source 1: IDC Estimates: https://www.idc.com/getdoc.jsp?containerId=US47115521#:~:text=Investment%20levels%20for%202022%2D2024,direct%20investment%20at%20%245.4% 20 trillion
Source 2: https://pwc.to/349x8w5
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Source KINETIC GROUP, INC.
