Rail Vision to acquire 51% in Quantum Transportation

Rail Vision (RVSN) signed a non-binding term sheet for a strategic transaction to acquire 51% ownership of Quantum Transportation, a quantum computing and AI company specializing in error correction technologies. Through this potential transaction, Rail Vision and Quantum Transportation aim to combine quantum-AI based IP protected, innovation with Rail Vision’s vision and safety technologies, creating potential synergies to enhance Rail Vision’s existing and future product lines. Upon the closing of the acquisition, Rail Vision will issue ordinary shares representing approximately 4.99% of its share capital to select Quantum Transportation shareholders in exchange for their full holdings in Quantum Transportation, securing majority control post-closing. Additionally, upon closing, Rail Vision will extend a convertible loan of up to $700K to Quantum Transportation at an 8% annual interest rate to support operations and development. The loan shall be repayable in one payment within the 24 month term. By utilizing this IP for transportation applications, including railway, Rail Vision aims to unlock new capabilities in anomaly detection, predictive maintenance, and autonomous rail operations. The transaction is conditioned on signing definitive agreements and key milestones and is expected to close within the next 60 days, subject to satisfaction of all conditions, including regulatory approvals.