GridAI Technologies Corp.

GridAI Technologies Corp. entered into a securities purchase agreement on July 1, 2026, to raise approximately $8.5 million through a private placement. The company will sell common stock, pre-funded warrants, and common stock purchase warrants to identified purchasers. Proceeds will be used for general corporate purposes, including potential acquisitions, debt repayment, and working capital. The closing is set for July 7, 2026, with a resale registration statement to be filed within 15 days.

GridAI Technologies Corp. filed an S-1 registration statement for the resale of up to 6,204,920 shares of common stock by selling stockholders, including shares underlying pre-funded and common warrants. The company recently completed two private placements in May 2026, securing aggregate gross proceeds of approximately $7.8 million, with $3.6 million received at closing. Despite these financings, the company faces significant financial challenges, including an accumulated deficit of $212.1 million and negative working capital of $13.7 million as of March 31, 2026, leading auditors to express substantial doubt about its ability to continue as a going concern.

GridAI Technologies Corp. reported a net loss of $3.44 million for the three months ended March 31, 2026, a significant increase from the $1.26 million net loss in the prior year period. The company disclosed substantial doubt about its ability to continue as a going concern, citing significant operating losses, negative cash flows, and an accumulated deficit of approximately $211.8 million. GridAI is exploring various strategic alternatives, including capital raises, debt restructuring, or a potential merger or sale, to address its financial challenges.

GridAI Technologies Corp. entered into a Debt Settlement and Subscription Agreement with 1396974 BC Ltd. to resolve a $1,032,315 outstanding debt. The company had previously defaulted on the revolving loan, which matured on January 31, 2026. The settlement involves a cash payment of $800,000 and the issuance of 71,482 common shares at a deemed price of $3.25 per share to satisfy the remaining accrued interest.

GridAI Technologies Corp. announced two private placements totaling approximately $7.79 million. The first financing, valued at $2.54 million, involves the sale of common stock, pre-funded warrants, and common warrants. A second, larger financing of $5.25 million also includes common stock, pre-funded warrants, and common warrants. The company plans to use the net proceeds for general corporate purposes, including working capital and repayment of outstanding liabilities.

GridAI Technologies Corp. announced it has regained compliance with Nasdaq's listing requirements. The company previously received a non-compliance notice on April 28, 2026, for failing to timely file its 10-K for the period ended December 31, 2025. Following the filing of the 10-K on May 1, 2026, Nasdaq confirmed on May 4, 2026, that the matter was closed and the company is now compliant.

GridAI Technologies Corp., formerly Entero Therapeutics, Inc., completed the acquisition of Grid AI Corp. on September 30, 2025, and subsequently rebranded. This strategic move pivots the company's core focus to developing AI data center energy orchestration software solutions, while scaling back its legacy residential energy management platforms. Concurrently, the company divested its ImmunogenX biopharmaceutical business, offloading $9.3 million in secured debt. The company also addressed multiple Nasdaq compliance issues throughout 2025 and continues development of its Adrulipase program.

GridAI Technologies Corp. (GRDX) received a Nasdaq notice on April 22, 2026, for non-compliance with listing rules due to the late filing of its 2025 Form 10-K. The company has 60 days, until June 22, 2026, to submit a compliance plan. If accepted, Nasdaq may grant an extension until October 12, 2026. The delay is attributed to complexities in accounting for a recent acquisition. GRDX plans to file the 10-K and submit a compliance plan promptly, though there's no assurance of Nasdaq's acceptance.

GridAI Technologies Corp. has defaulted on its Revolving Loan Agreement with 1396974 BC Ltd. The company failed to repay the outstanding balance by the January 31, 2026 maturity date. As a result, the lender issued a demand letter on April 1, 2026, seeking a total of $1,014,675, which includes the principal, accrued interest, and a 20% default penalty. GridAI is currently evaluating the situation and is in active discussions with the lender.