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AlphaTON Capital (NASDAQ:ATON) stock rose Monday after the company disclosed a Letter of Intent to acquire a 51% stake in Forbes Media Holdings (FMH).
AlphaTON planned a two-phase acquisition of FMH.
In Phase 1, the company would acquire a 51% stake in FMH and its subsidiaries, with payment made in USD or USD stablecoin.
If Phase 1 closes successfully, AlphaTON would consider acquiring the remaining equity in FMH in Phase 2.
The move complements AlphaTON’s Media arm, as integrating Forbes with its recent Blockchain Wire acquisition allows the company to leverage blockchain technology for immutable, verified content.
This “proof of truth” approach aims to combat disinformation and deepfakes amid a growing AI-driven news landscape.
Brittany Kaiser, CEO of AlphaTON Capital, commented, “The current state of financial data infrastructure suffers from inaccuracy. Despite AlphaTON Capital (ATON) having issued numerous press releases and SEC filings with updated information, we persistently observe errors and outdated details concerning our company’s sector, board members, and other specifics across various financial news outlets and brokerage firms.”
AlphaTON Capital’s Chairman and CIO, Enzo Villani, stated, “Our vision is to leverage the Forbes acquisition to establish a ‘gold standard’ for verified financial journalism and data. We plan to utilize blockchain technology to guarantee the accurate and immutable provenance of every article and all information related to a listed company, thereby creating a high-integrity data source essential for the future of AI.”
Price Action: ATON shares were trading higher by 8.89% to $3.180 at last check Monday.
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Posted In: ATON
