New york: TOMI Environmental Solutions Inc (TOMI) has clarified its previously announced non-binding letter of intent for a merger transaction to acquire 100 percent of the outstanding equity of Carbonium Core Inc. Under the proposed transaction, TOMI will provide all-stock consideration valued at $120 million through a combination of newly issued common shares representing up to 19.99 percent of outstanding shares and newly created Series B Convertible Preferred Stock, convertible into TOMI common stock at $1.00 per share.

According to BERNAMA News Agency, the transaction is subject to stockholder approval under Nasdaq Stock Market rules and is expected to close in the second quarter of 2026, pending execution of definitive agreements and customary closing conditions. The proposed acquisition is expected to establish a domestic advanced graphite platform targeting a multi-billion-dollar market supported by United States supply-chain reshoring and next-generation nuclear deployment.

In addition, TOMI Chief Executive Officer, Dr. Halden Shane, and Carbonium Core CEO, Suren Ajjarapu, presented at Wall Street Reporter's NEXT SUPER STOCK livestream event on May 7. TOMI is a global company specializing in disinfection and decontamination solutions across multiple industries, while Carbonium Core is a US-based advanced materials company focused on producing nuclear-grade graphite for fourth-generation reactors.