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Wangsu Science and Technology: Intends to Pour 300 Million Yuan into Video Generation Model Firm Sand.ai
1 day ago /
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Author：小编
On September 29, Wangsu Science and Technology made an announcement regarding its plan to undertake an equity investment in Sand.ai. The company is set to allocate 300 million yuan from its own coffers to subscribe for the A+ round preferred shares issued by Sandai Cayman. Following this investment, Wangsu Science and Technology will secure a 4.3963% stake. As a transitional measure, Wangsu Science and Technology has already extended a 300 million yuan convertible debt to Shanghai Sandai Technology and acquired A+ round warrants in the process. Established in January 2024, Sand.ai is dedicated to the research and development of visual content generation models as well as application products rooted in video models.
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