NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- QuasarEdge Acquisition Corporation (NYSE: QRED, “QuasarEdge”), a Cayman Islands exempted company formed as a special purpose acquisition company, today announced that it has entered into a non-binding letter of intent (“LOI”) with Robseek Intelligence Inc. (“Robseek”) to pursue a potential business combination.
Robseek is an infrastructure platform company building a "device + data + AI + service" ecosystem that transforms from smart device distribution into an AI-driven physical world entry network, starting from the Middle East with its NOVA AI advertising platform and ALIF AI smartphones and smart-devices to capture recurring long-term value through data assets and intelligent distribution efficiency.
QuasarEdge believes the proposed transaction with Robseek may present a unique and potentially extraordinary opportunity for its shareholders.
Under the preliminary, non-binding terms, the parties are exploring a potential share-for-share exchange in which QuasarEdge would acquire 100% of the issued and outstanding equity of Robseek. While the structure remains subject to further negotiation and due diligence, the LOI contemplates an exchange ratio of one QuasarEdge share for each Robseek ordinary share, which would imply the issuance of up to approximately 100 million QuasarEdge shares, based on a preliminary assumed value of $10.00 per share. Such valuation is for illustrative purposes only and remains subject to adjustment based on final structuring, due diligence, and definitive documentation.
The proposed transaction is expected to be subject to customary closing conditions, including regulatory approvals, shareholder approvals, and the availability of financing.
“This letter of intent represents an important first step in our strategy to bring this AI-driven infrastructure platform company to the public markets,” said Qi Gong, Chief Executive Officer of QuasarEdge.
“We are very pleased to enter into this non-binding LOI with QuasarEdge as we pursue a public market; We look forward to working closely with QuasarEdge to evaluate this opportunity.” said Meng Tang, Chief Executive Officer of Robseek.
The transaction remains subject to, among other things, execution of definitive agreements, completion of due diligence, approval of the boards and shareholders of the respective parties (if applicable), and regulatory and other customary conditions.
Important Note Regarding the LOI
The LOI is non-binding and there can be no assurance whatsoever that a definitive agreement will be executed or that the proposed transaction will be completed on the terms described, or at all.
About Robseek Intelligence Inc.
Robseek is an infrastructure platform company building a "device + data + AI + service" ecosystem that transforms from smart device distribution into an AI-driven physical world entry network, starting from the Middle East with its NOVA AI advertising platform and ALIF AI smartphones and smart-devices to capture recurring long-term value through data assets and intelligent distribution efficiency.
About QuasarEdge Acquisition Corporation
QuasarEdge Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. QuasarEdge is not limited to any particular industry or geographic region in identifying prospective targets.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. These statements relate to, among other things, the proposed business combination, future operations, and performance. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties that could cause actual results to differ materially. No assurance can be given that the parties will enter into a definitive agreement or that the proposed transaction will be consummated as described, or at all. QuasarEdge disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances that occur after the date of this release.
Contact
Qi Gong
Chief Executive Officer
Email: qigong@quasaredge.co
Tel: (212) 612-1400
