Patrick Tsang Brings Empulser to AIBotics in Definitive Defense-Technology Transaction

MIAMI, Oct. 05, 2026 (GLOBE NEWSWIRE) -- AIBotics, Inc. (OTCID: AIBT) (“AIBotics” or the “Company”), a public company focused on AI-enabled robotics, intelligent automation and emerging technology, today announced that on October 2, 2026 it entered into an Agreement for the Exchange of Stock (the “Exchange Agreement”) with Empulser Enterprises LLC (“Empulser”), a Wyoming limited liability company founded by Patrick Tsang, and the members of Empulser. Upon closing, AIBotics will acquire 100% of the issued and outstanding membership interests of Empulser, and Empulser will become a wholly owned subsidiary of AIBotics. In connection with the transaction and the Company’s next phase of strategic growth, Tsang has joined AIBotics as a Strategic Advisor.

The agreement brings Tsang and Empulser to the center of AIBotics’ evolving public-company strategy. Empulser is being developed around the convergence of wireless power, autonomous systems, AI-enabled unmanned technologies and the infrastructure required to support more persistent autonomous operations. The proposed acquisition is intended to provide a public-market platform through which Empulser can pursue technology development, intellectual-property expansion, testing and validation, capitalization, strategic relationships and, ultimately, commercial and defense applications.

Patrick Tsang Brings a New Technology Platform to AIBotics

Tsang brings more than two decades of experience across global capital markets, public-company transactions, mergers and acquisitions, strategic investing, corporate development and emerging technology. As Strategic Advisor to AIBotics, he is expected to work with Chief Executive Officer Ben Kaplan and the Company on strategic growth, capital-markets strategy, corporate development, international partnerships and the identification of opportunities across AI, robotics, autonomous systems and related technologies.

Tsang is Chairman of Tsang Group, a fourth-generation single family office with interests across technology, real estate and natural resources. Over more than two decades, he has worked across international investment, capital formation, mergers and acquisitions, corporate development and emerging technology, building relationships across Asia, Europe, the Middle East and North America. He is also the Founder and Chief Executive Officer of Empulser, the defense and dual-use technology platform that AIBotics has agreed to acquire.

A Public-Market Track Record

Under Patrick Tsang's leadership, an early-stage investment was made in Pulse Evolution Group in 2018, alongside a strategic advisory role. Pulse subsequently became part of FaceBank Group, which completed its merger with fuboTV in 2020, culminating in fuboTV trading on the New York Stock Exchange during the Covid period.

Empulser: Defense, Autonomy and the Infrastructure Behind Intelligent Machines

Empulser is focused on building a U.S. defense and dual-use technology platform around wireless power and autonomous systems. Its development strategy centers on technologies intended to address a fundamental challenge facing unmanned platforms: extending operational endurance while reducing dependence on manual charging and support infrastructure. Empulser’s broader vision includes wireless power transfer, autonomous aerial and ground systems, AI-enabled mission functionality and infrastructure designed to support unmanned operations across defense, government, critical-infrastructure and commercial environments.

Empulser remains in a development and commercialization phase. Future technology, product, testing, certification, customer and revenue milestones will be announced only as they are achieved and can be substantiated. AIBotics and Empulser intend to build public communications around documented execution rather than projected milestones.

Transaction Overview

Under the Exchange Agreement, AIBotics will acquire 100% of the issued and outstanding membership interests of Empulser from the Empulser Members in exchange for up to 2,200,000 shares of a newly designated Series C Preferred Stock having an aggregate stated value of up to $22.0 million. The Certificate of Designation provides for an original issue price of $10.00 per share. Of the total acquisition consideration, 220,000 shares, representing 10%, are allocated to the closing and 198,000, representing 9%, shares are allocated to each of ten separate earn-out milestones.

The earn-out period begins at closing and continues for 36 months. The milestones cover specified patent filings and issuances, product demonstration and flight testing, acceptance into a formal test, evaluation or pilot program, and achievement of $500,000 in cumulative recognized revenue. Shares tied to a milestone are earned only if that milestone is achieved during the earn-out period; unearned milestone shares will cease to be issuable or will be forfeited and cancelled, as applicable under the Exchange Agreement.

The Series C Preferred Stock pays no dividends and generally has no voting rights except as provided in the Certificate of Designation or required by law. Each share is convertible at the holder’s option into AIBotics common stock under the formula set forth in the Certificate of Designation. The initial conversion price will equal the closing price of AIBotics common stock on its principal market on the trading day immediately preceding the transaction closing, subject to specified adjustments. Conversion is subject to certain beneficial-ownership limitations, subject to the notice and waiver provisions described in the Certificate of Designation.

AIBotics may, in its sole discretion, advance up to $2.0 million to Empulser before closing for expenditures under an approved budget. Any advances will be structured as loans secured by a first-priority security interest in all of Empulser’s assets and will be subject to the promissory note and related security documents to be negotiated.

Closing is subject to customary and transaction-specific conditions, including the transfer of 100% of Empulser’s membership interests, compliance with the parties’ covenants and representations, delivery by Empulser of audited financial statements for the periods required by Regulation S-X prepared in accordance with U.S. GAAP, and AIBotics being current in its SEC and/or OTC Markets filing obligations and labeled “Current” on OTC Markets. The Exchange Agreement provides for termination in specified circumstances if the transaction has not closed within 90 days after October 2, 2026 or if applicable closing conditions have not been satisfied or waived by January 2, 2027. There can be no assurance that the transaction will close.

As disclosed in the Form 8-K, Tsang is to provide consulting and advisory services regarding AIBotics’ existing business for 90 days or until a chief executive officer agreement becomes effective. Subject to applicable law, a satisfactory background and eligibility review, approval by AIBotics’ Board of Directors in the exercise of its fiduciary duties, and execution of a satisfactory CEO agreement, AIBotics intends to appoint Tsang as Chief Executive Officer and a director effective upon closing of the Empulser acquisition.

The foregoing is a summary of selected transaction terms. Additional information regarding the Exchange Agreement, the Series C Preferred Stock, the closing conditions and the proposed transaction is contained in AIBotics’ Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission, including the Exchange Agreement filed as Exhibit 10.1. The full agreement and filed disclosure should be reviewed for a complete description of the transaction.

Management Commentary

Ben Kaplan, Chief Executive Officer of AIBotics, said, “This is an important step in the evolution of AIBotics. Patrick brings a rare combination of global capital-markets experience, public-company transaction expertise, technology investing, corporate development and international relationships — and he has built Empulser around technologies that fit directly into where we believe AI and autonomous systems are heading. The definitive agreement gives us a potential foundation for building a much broader defense and dual-use technology platform. Patrick’s experience identifying emerging opportunities, attracting capital, developing strategic relationships and navigating public markets can be extremely valuable as we move into this next phase.”

Patrick Tsang said, “This transaction marks an important new chapter for Empulser. We believe the opportunity in autonomous systems is much broader than building another drone or robot. The real challenge is enabling intelligent machines to operate for longer, with greater resilience and less human intervention. Empulser is being built around that challenge — combining wireless power, autonomous systems and enabling technologies to increase the persistence and effectiveness of unmanned platforms. Working with Ben and the AIBotics team gives us a public-market platform from which to develop the technology, attract world-class partners and capital, and build a significant U.S. defense and dual-use technology company.”

During the pre-closing period, Tsang’s advisory role is expected to include strategic growth, capital formation, public-market strategy, corporate development, international partnerships and the evaluation of complementary emerging technologies and acquisition opportunities. As disclosed in the Form 8-K, following the closing of the acquisition of Empulser, AIBotics also intends, subject to the conditions described in the Exchange Agreement, to appoint Tsang as Chief Executive Officer and a director. The Company expects to provide additional updates as the Empulser transaction progresses and as material operating milestones are achieved.

About AIBotics

AIBotics, Inc. is a global technology company building a platform around AI-enabled robotics, autonomous systems and intelligent automation. The Company focuses on applying advanced technologies to real-world environments through strategic partnerships, technology development and international market relationships. AIBotics seeks to identify, develop, implement and scale solutions that improve how machines operate, automate business processes and extend the practical application of artificial intelligence into the physical world. Through a scalable, partnership-driven model, AIBotics is building a diversified robotics and autonomous-systems platform designed to support commercial, industrial and other mission-driven applications across global markets. For more information on AIBotics, visit www.aibotics.ai

About Empulser Enterprises LLC

Empulser Enterprises LLC is a U.S.-focused defense and dual-use technology company developing a platform around wireless power, autonomous systems, unmanned technologies and supporting infrastructure. Empulser’s development strategy is focused on technologies intended to improve the endurance, deployment and coordination of autonomous platforms across defense, government, critical-infrastructure and commercial applications. Empulser’s products and technologies are in development, and future milestones are subject to successful engineering, testing, validation, certification, funding and commercialization. For more information on Empulser, visit www.empulser.com.

About Patrick Tsang

Patrick Tsang is an international investor and entrepreneur and Chairman of Tsang Group, a fourth-generation single family office with interests across technology, real estate and natural resources. He is the Founder and Chief Executive Officer of Empulser Enterprises LLC, a U.S.-focused defense and dual-use technology company developing technologies around wireless power, autonomous systems and unmanned platforms.

Over more than two decades, Tsang has worked across international investment, capital formation, mergers and acquisitions, corporate development and emerging technology, building relationships across Asia, Europe, the Middle East and North America. Through his leadership, he was an early-stage investor and strategic advisor to Pulse Evolution, helping guide its journey through the FaceBank/fuboTV transaction to fuboTV's listing on the New York Stock Exchange during the Covid period. SEC filings subsequently referenced an approximately 300-times return in two years on the investment based on fuboTV's late-2020 share price.

Tsang is a qualified solicitor in England and Wales and Hong Kong and attended Harvard Business School's Owner/President Management (OPM) program. He is the author of The Global Citizen and has been actively involved in philanthropy and international leadership throughout his career, including through the Duke of Edinburgh's World Fellowship, Rotary International and YPO. He was recognized as China Economic Person of the Year during the China Economic Development Forum in 2014.

Forward-Looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements include, among other things, statements regarding the proposed acquisition of Empulser; the anticipated structure, timing, closing and benefits of the transaction; the issuance, earning and conversion of Series C Preferred Stock and potential dilution associated with conversion; the achievement and verification of earn-out milestones; any discretionary pre-closing loans by AIBotics to Empulser; the contemplated management transition involving Patrick Tsang; AIBotics’ and Empulser’s business strategies; technology development, testing, validation, certification and commercialization; intellectual-property development; financing and capital formation; strategic partnerships; government, defense and commercial opportunities; potential customers, contracts and revenue; future acquisitions; and the Company’s broader strategy in AI, robotics, autonomous systems and defense and dual-use technology. Forward-looking statements are based on current expectations, assumptions and estimates and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, among others, the possibility that the transaction may not close on the anticipated terms or timing, or at all; failure to satisfy or waive closing conditions, including delivery of required audited financial statements and maintenance of required filing status; termination following due diligence, an uncured material breach or a material adverse change; AIBotics’ decision not to provide discretionary pre-closing financing or the parties’ failure to execute satisfactory loan and security documents; failure to achieve or substantiate earn-out milestones; setoff or cancellation of earn-out consideration; dilution associated with conversion of preferred stock; failure to satisfy the conditions to Patrick Tsang’s proposed appointment as Chief Executive Officer and a director; integration risks; development and engineering risks; testing, certification and regulatory requirements; protection of intellectual property; competition; dependence on key personnel and strategic relationships; customer adoption; government procurement processes; and the Company’s ability to execute its business plan. Readers should review AIBotics’ filings with the U.S. Securities and Exchange Commission, including the Current Report on Form 8-K relating to the Exchange Agreement, for additional information concerning risks and uncertainties. Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update them except as required by law.

Media and Investor Relations

David Kugelman
Atlanta Capital Partners, LLC
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