Core Viewpoint - Pheton Holdings Ltd has successfully acquired 51% of iTonic Corporation, enhancing its portfolio in healthcare technology and aiming to improve patient outcomes through advanced solutions [1][4]. Acquisition Details - The acquisition was completed on November 25, 2025, following a Stock Purchase Agreement (SPA) with iTonic and certain shareholders, involving the issuance of 4,000,000 Class A ordinary shares and warrants for an additional 3,000,000 shares at an exercise price of $3.10 [2]. - The performance milestones for the warrants are tied to iTonic's achievement of specific quarterly or annual targets as outlined in the SPA [2]. Company Background - Pheton Holdings Ltd, founded in 1998, focuses on healthcare solutions for brachytherapy, a targeted radiation therapy for cancer treatment, with its lead product being a Treatment Planning System used outside the U.S. [5]. - iTonic Corporation, founded by health-tech entrepreneur Fahim Hashim and others, aims to address preventable deaths and high healthcare costs linked to medication non-adherence through an integrated home health platform [3][6]. Strategic Importance - The acquisition is seen as a transformative milestone for Pheton, allowing it to expand into the U.S. home health market and integrate iTonic's technology to provide AI-driven health solutions [4]. - Both companies express optimism about the partnership's potential to create significant value for shareholders and improve the lives of patients and caregivers [4].