MIMI News & Events

Mint announced that it has entered into a non-binding memorandum of understanding, or MOU, with Ascendze, a Singapore-based company that focuses on the semiconductor industry and its associated manufacturing processes. The MOU outlines Mint's intention to acquire a controlling or majority equity stake in Ascendze, establishing it as Mint's primary platform for strategic expansion and investment in Singapore's technology sector. The proposed partnership will focus on advancing chip production technologies, robotics-driven automation, and explore related innovation initiatives. The parties aim to execute definitive agreements within 90 days from the date of the MOU, subject to satisfactory due diligence, board approvals, regulatory clearances where applicable, and other customary conditions. Through the proposed partnership, the parties intend to collaborate on the research, development, and commercialization of advanced chip production technologies and robotics-driven automation solutions. In addition, Mint plans to provide further capital investment to support Ascendze's expansion and growth initiatives in Singapore, subject to the execution of separate definitive agreements.

Mint announced that it has entered into a joint venture agreement with YAS Digital Group to establish YAS Robotics, a Hong Kong-based joint venture. The joint venture will focus on the development, marketing, and distribution of robotics and artificial intelligence-related insurance products. Under the terms of the agreement, YAS Digital Group will hold a 75% ownership stake and Mint will hold a 25% stake in the new company. The partnership aims to leverage real-world operational data from robots to design insurance products that reduce adoption risks for businesses in Hong Kong and Southeast Asia.

Mint announced that its wholly-owned subsidiary, Aspiration X, has entered into a joint venture agreement with Rice Robotics to establish Rice Robotics AGI, a new British Virgin Islands joint venture company. Rice Robotics AGI will focus on the development and sales of the next generation of AI companion robots, or as may be expanded or changed by Rice Robotics AGI from time to time in accordance with the JV Agreement. Pursuant to the JV agreement, Aspiration X and/or its nominee(s) will contribute HK$15M in funding, as well as provide human resources and research and development support to Rice Robotics AGI. On the other hand, Rice Robotics will, among other things, provide Rice Robotics AGI with its existing technology, intellectual property, clients, know-how and marketing and sales support. The JV agreement also contains customary provisions relating to governance of Rice Robotics AGI, including shareholder consent rights for certain significant matters, transfer restrictions, and pre-emptive rights in connection with future issuances of shares of Rice Robotics AGI. The establishment of this joint venture marks a significant strategic step by Mint to further expand its footprint in the AI companion robot market, expected to extend the Group's robotics capabilities from business-to-business applications into the consumer space. The collaboration brings together Mint's strategic resources with Rice Robotics' proven autonomous navigation and AI technology, building on the successful co-development and delivery of the FLOKI Minibot M1 for commercial applications. Rice Robotics AGI is now expected to channel that technical foundation directly into the consumer arena, focusing on developing and commercializing consumer-oriented AI companion robots that integrate emotional AI and autonomous navigation to create joyful everyday experiences.

Mint files $100M mixed securities shelf