AlphaVest shareholders approve merger with AMC Corp; combined entity to become AMC Robotics

Shareholders of AlphaVest Acquisition Corp (NASDAQ:ATMV) have approved a merger with AMC Corporation, which focuses on security and safety technology, involving an $8 million private placement of stocks and warrants.

The combined entity will be named AMC Robotics Corporation, set to trade on Nasdaq under the ticker "AMCI," and plans to launch an AI-driven robotic system for warehouse patrol by early 2026.

The merger is expected to finalize in the coming weeks, although ATMV shares fell over 9% in post-market trading following the approval announcement.

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AlphaVest Acquisition Corp (NASDAQ:ATMV) shareholders have given their approval for the merger with AMC Corporation, a company specializing in security and safety technology. The agreement includes a binding commitment for an $8 million private placement of common stocks and warrants, which will be available for exercise at a price of $10 per share.

Upon completion, the newly formed entity will be titled AMC Robotics Corporation and is anticipated to be traded on the Nasdaq under the ticker symbol "AMCI." AMC has outlined an ambitious growth strategy, which features the development of an AI-driven robotic system for warehouse patrol and incident response, with plans for a commercial launch slated for early 2026.

The finalization of the merger is expected to occur in the coming weeks. Following news of the approval, ATMV shares experienced a decline of over 9% in post-market trading on Tuesday.

Source: Press release