TOMI Details Proposed Acquisition Of Carbonium Core
KUALA LUMPUR, May 11 (Bernama) -- TOMI Environmental Solutions Inc (TOMI) has clarified its previously announced non-binding letter of intent (the LOI) for a merger transaction to acquire 100 per cent of the outstanding equity of Carbonium Core Inc (Carbonium Core).
Under the proposed transaction, TOMI will provide all-stock consideration valued at US$120 million through a combination of newly issued common shares representing up to 19.99 per cent of outstanding shares and newly created Series B Convertible Preferred Stock, convertible into TOMI common stock at US$1.00 per share. (US$1 = RM3.91)
The transaction is subject to stockholder approval under Nasdaq Stock Market rules and is expected to close in the second quarter of 2026, pending execution of definitive agreements and customary closing conditions.
According to TOMI in a statement, the proposed acquisition is expected to establish a domestic advanced graphite platform targeting a multi-billion-dollar market supported by United States (US) supply-chain reshoring and next-generation nuclear deployment.
In addition, TOMI Chief Executive Officer (CEO), Dr Halden Shane, and Carbonium Core CEO, Suren Ajjarapu, presented at Wall Street Reporter’s NEXT SUPER STOCK livestream event on May 7.
TOMI is a global company specialising in disinfection and decontamination solutions across multiple industries, while Carbonium Core is a US-based advanced materials company focused on producing nuclear-grade graphite for fourth-generation reactors.
-- BERNAMA