Freight Technologies shares surge 10.76% after-hours after announcing acquisition of JAK Solar to boost asset base and recurring cash flows.

Freight Technologies surged 10.76% in after-hours trading following the announcement of its agreement to acquire JAK Solar Loans 1 Limited. The deal, which expands the company’s asset base with a portfolio of 62 U.S.-based residential solar loans totaling $1.85 million in principal, is expected to enhance financial flexibility, strengthen operating cash flows, and align with its disciplined capital allocation strategy. The acquisition adds long-duration, recurring cash flows through JAK Solar’s scalable servicing platform, supporting Freight Technologies’ focus on sustainable growth and shareholder value. Management highlighted the strategic fit with its technology-driven logistics solutions and emphasized the transaction’s potential to improve balance sheet resilience. The move reflects the company’s ongoing strategy to diversify into renewable energy-related assets while leveraging data and AI to optimize operations.