Perpetuals.com Ltd (NASDAQ: PDC) has signed a non-binding term sheet to explore the potential acquisition of Alt5 Sigma Canada, Inc., a subsidiary of AI Financial Corporation (NASDAQ: AIFC), according to a statement from the company's Chief Strategy Officer, Matthew Nicoletti.

Nicoletti said the company is currently conducting due diligence and that no decisions have been made. "We evaluate how this potential transaction could further fuel Perpetuals's growth and complement our product roadmap," he said.

The statement did not disclose financial terms of the proposed transaction. Completion of any deal would be subject to due diligence, valuation agreement, negotiation of definitive documents, regulatory approvals, and board approval, among other conditions.