- Creates asset diversification in addition to a crypto treasury and platform for Freight Technologies to introduce crypto to the Over-the-Road (OTR) carrier and logistics markets -

- Freight Technologies and Fetch.AI to collaborate on a development partnership to further blockchain and AI technologies in the logistics space -

The news coverage about Freight Technologies' (NASDAQ:FRGT) acquisition of FET Tokens from Fetch.AI (NYSE:FTECH) has been updated with new details. In a filing with the Securities and Exchange Commission on Monday, Freight Technologies announced the execution of a Securities Purchase Agreement (the "Agreement") for the acquisition of $5.2 million of FET Tokens from Fetch Compute, Inc. ("Fetch Compute"), in exchange for 2,311,248 Series A4 preferred shares of the Company, par value $0.0001 per share ("Preferred Shares"). The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Company's current report on Form 8-K dated April 1, 2025, announcing the execution of the Agreement.

As explained in the filing, FET Tokens are the cryptocurrency that fuel Fetch.ai, a decentralized machine learning platform. This aligns with Freight Technologies' vision for scalable and secure AI solutions in the OTR carrier and logistics markets. The acquisition of FET Tokens will allow Freight Technologies to begin actively participating in Fetch.ai's decentralized AI ecosystem, expanding its competitive advantage in the logistics industry.

"On the heels of the launch of our AI Tendering Bot, an innovative solution designed to automate and streamline the load tendering process for shippers and freight brokers, today's token acquisition announcement brings further breadth and depth to Fr8Tech's commitment to logistics innovation, while simultaneously strengthening and diversifying our balance sheet," said Javier Selgas, the Chief Executive Officer of Freight Technologies. "With a FET Token treasury in place and by leveraging Fetch.ai's empowered decentralized digital economy, our ultimate goal is to empower clients with real-time visibility and greater supply chain transparency to handle different activities inside the decentralized economy, whether it's improving supply chain logistics, maintaining solid record-keeping systems, executing computational tasks, or enabling transactional interactions."

The complete filing is available on the SEC website.

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