Vyome Subsidiary LiveChain (LICH) to Acquire Senior Secured Note in Humanyze, An MIT Incubated Company
Vyome Board completes review of strategic alternatives for LICH, executes critical first step in building a scalable, standalone business
Vyome Holdings, Inc. ("Vyome') (NASDAQ:HIND) announced its subsidiary, LiveChain, Inc. ("Livechain" or "LICH") (OTC Markets: LICH) has executed a binding letter of intent ("LOI") with Remus Capital, a leading AI-focused venture capital firm, that will put LiveChain in control of the Humanyze brand, intellectual property, and other know-how of Sociometric Solutions, Inc. DBA Humanyze ("Humanyze"), a rapidly emerging AI-enabled human resources data and analytics company.
The LOI contemplates that, as consideration for the transaction, LICH shall issue shares of its common stock valued at approximately $325,000, in exchange for acquiring a senior secured convertible note between Remus and Humanyze. Through this transaction, LICH will be the senior secured creditor of Humanyze, whose note is secured by a lien in all of Humanyze's intellectual property and trade secrets.
Born from the prestigious MIT Media Lab, Humanyze has one of the world's largest databases for employee interactions within the workplace and is working to redefine the future of work through science-backed analytics and AI-enabled insights that help large, complex companies make continuous workplace improvements that benefit both employees and the business.
"One of our immediate objectives as the Board of Directors of Vyome was to find a way to create value from LiveChain, as we promised LiveChain and Vyome shareholders. We evaluated multiple options, but this path is the first step of a plan that could enable LiveChain to become self-sufficient financially and build a scalable independent business that could generate significant value for shareholders," commented Venkat Nelabhotla, Board member of LiveChain and CEO of Vyome. "Humanyze is attacking one of the biggest issues facing Fortune 1000 companies around the world – human capital, and the cost of developing, retaining, and rewarding people in the most cost-effective way possible."
"Humanyze has built a compelling AI-enabled platform that breaks down critical data to give employers clear, actionable insights that optimize many companies' most valuable resource, their human capital. This optimization is even more critical in an age where humans and AI have to waltz together in the workplace. We see multiple ways for Humanyze to monetize their offerings, and the market opportunity is quite compelling," added Krishna Gupta, Chairman of Vyome.
The LOI contemplates that the parties will enter into definitive agreements upon the terms set forth in the LOI within 30 days of the execution of the LOI and to consummate a closing within an additional 45 days, upon satisfaction of all conditions precedent as may be outlined in the definitive agreements. There can be no assurance that the transaction contemplated by the LOI is consummated.
About Vyome Holdings, Inc.
Vyome is building the world's premier platform spanning the US-India innovation corridor. Based in Cambridge, MA, Vyome's immediate focus is on leveraging its clinical-stage assets to transform the lives of patients with immuno-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. To learn more, please visit www.vyometx.com
Forward-Looking Statements
Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "target," "believe," "expect," "will," "shall," "may," "anticipate," "estimate," "would," "positioned," "future," "forecast," "intend," "plan," "project," "outlook", and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such statements, include, but are not limited to, statements contained in this press release relating to Vyome's business strategy, Vyome's future operating results and liquidity and capital resources outlook. Forward-looking statements are based on Vyome's current expectations and assumptions regarding Vyome's business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Vyome's actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. Vyome cautions you, therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, Vyome's ability to raise capital to fund continuing operations; our ability to protect Vyome's intellectual property rights; the impact of any infringement actions or other litigation brought against Vyome; competition from other providers and products; Vyome's ability to develop and commercialize products and services; changes in government regulation; Vyome's ability to complete capital raising transactions; and other factors relating to Vyome's industry, operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause Vyome's actual results to differ may emerge from time to time, and it is not possible for Vyome to predict all of them. Vyome cannot guarantee future results, levels of activity, performance, or achievements. Vyome assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, except as may be required under applicable securities law.
Visit us on social media:
View source version on businesswire.com: https://www.businesswire.com/news/home/20251222453959/en/