Entero Therapeutics (now GridAI Technologies) acquires GRID AI, whose holders get 82.5%

The acquisition

Entero Therapeutics, Inc. (NASDAQ: ENTO) said on October 1, 2025 that it had acquired 100% of GRID AI Corp, a grid-edge software and device platform that helps utilities, retailers and large power users manage electricity demand. The release describes the platform as using AI, machine learning and edge analytics to balance supply and demand across behind-the-meter assets such as EV chargers, batteries, HVAC systems, water heaters and rooftop solar.

The release says more than $50 million has been invested in commercializing the platform since 2019. That is spending, not revenue, and this story reports no GRID AI revenue. The release says the platform delivers Dynamic Load Shaping and an Aggregation Management Platform that orchestrate millions of behind-the-meter assets, but it gives no count of installed or contracted devices. Interim Chief Executive Officer Jason Saywer is quoted as saying, "This transaction is transformative for ENTO."

The terms

Subject to shareholder approval, GRID AI's former shareholders would own about 82.5% of Entero's fully diluted common stock, and existing Entero shareholders would keep about 17.5%. At closing, the former GRID AI shareholders can name two directors to Entero's board. Once the agreement is fully carried out, they are entitled to appoint five of seven directors.

Entero may also issue equity incentives, such as restricted stock and options, to key staff, subject to any required shareholder approval. The company said it will file an initial listing application for its common stock to the extent Nasdaq's change of control rules require it.

On these terms, the existing Entero holders would hold a minority of the combined company, and the former GRID AI shareholders would hold a board majority once the agreement is carried out. The release itself refers to Nasdaq's change of control rules, which may require an initial listing application.

The drug business and the forecasts

The company describes itself as a late clinical-stage drug developer focused on gastrointestinal diseases. Its lead program is adrulipase, a recombinant lipase enzyme. The release says the company intends to continue those operations and run GRID AI as a wholly owned subsidiary.

The annual report filed April 1, 2025 describes adrulipase for exocrine pancreatic insufficiency in cystic fibrosis and chronic pancreatitis. It says the Phase 2b monotherapy bridging study, announced in July 2023, did not achieve its primary efficacy endpoint. The same report describes the discontinuation of latiglutenase, capeserod and niclosamide, and a March 2025 rescission agreement for the ImmunogenX merger.

The release leans on outside forecasts for data-center power demand and AI capital spending, and it cites a multi-year AI infrastructure agreement between CoreWeave and Meta as evidence of demand. Those forecasts describe the market. They are not results from GRID AI, and the release does not present GRID AI's own customer or revenue figures.

Critical read

The deal moves a company whose only clinical program missed its primary endpoint into grid software and device sales, and it does so by giving the acquired company's shareholders most of the equity and most of the board. The company says the transaction is transformative. The filings in this story do not show GRID AI's financial results, its contracts or its path to profit.

The rescission of ImmunogenX, the discontinued programs and the change of control are the company's recent record. The release says shareholder approval is required for the share split, and it is the first term the release sets out.

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