New york: TOMI Environmental Solutions, Inc.® (Nasdaq: TOMZ) has announced further details about its non-binding letter of intent for a merger with Carbonium Core, Inc., a U.S. developer of nuclear-grade graphite for advanced reactor technologies. The proposed transaction aims to position TOMI within the $13-15 billion global graphite industry.

According to BERNAMA News Agency, the transaction will involve an all-stock consideration worth $120 million. TOMI plans to issue newly created Series B Convertible Preferred Stock, which will be convertible into common stock at $1.00 per share, and newly issued shares of common stock up to 19.99% of outstanding shares. This move is subject to stockholder approval in accordance with the rules of the Nasdaq Stock Market.

The company targets closing the transaction during the second quarter of 2026, pending the execution of definitive agreements and customary closing conditions. This strategic merger is expected to enhance TOMI's capabilities in the nuclear-grade graphite market, facilitating its entry into a lucrative industry that supports advanced reactor technologies.