Pheton Holdings shares surge 48.58% after-hours after completing 51% stake acquisition in U.S. home health AI firm iTonic.

Pheton Holdings surged 48.58% in after-hour trading following the announcement of completing its 51% acquisition of iTonic Corporation, a U.S.-based home health AI company. The deal, closed on November 25, 2025, involved issuing 4 million Class A shares and 3 million warrants exercisable at $3.10, contingent on performance milestones. The acquisition expands Pheton’s U.S. footprint by integrating iTonic’s AI-driven home health platform, targeting medication adherence challenges and enhancing patient outcomes. Management emphasized the strategic alignment with Pheton’s healthcare technology goals, positioning the company to capitalize on the growing home health market. The transaction, first disclosed in August, was highlighted as a transformative milestone, reinforcing investor confidence in Pheton’s long-term value creation through expanded product offerings and market reach.