Oblong signs non-binding LOI to merge with Dwellwell Analytics; Dwellwell holders to own 67% of combined company

TaoWeave, Inc.

Dwellwell securityholders would own 67% of combined equity; Oblong holders own 33%, on fully diluted basis.
Transaction is non-binding, subject to due diligence, definitive agreement, board and shareholder approvals, regulatory approval, and net cash condition.
Dwellwell uses AI and remote sensing for predictive residential property maintenance; seeks to scale via merger.
No assurance a definitive agreement will be reached or that the proposed merger will be consummated.
Oblong CEO states transaction is the best strategic alternative after comprehensive review.

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