Freight Technologies shares rise 12.35% intraday after announcing acquisition of JAK Solar Loans for $1.85 million.

Freight Technologies surged 12.35% intraday following its announcement to acquire JAK Solar Loans 1 Limited for $1.85 million. The deal, which adds 62 U.S. residential solar loans with a weighted average maturity of 9.6 years, expands the company’s asset base and enhances financial flexibility. JAK Solar’s unaudited gross cash receipts of $314,810 in 2024 and recurring revenue streams align with Freight Technologies’ strategy to generate long-duration cash flows. CEO Javier Selgas emphasized the acquisition’s role in strengthening the balance sheet and supporting sustainable growth, reinforcing investor confidence in the company’s capital allocation framework.