RE: Why can’t Buy on II??29 Jun 2026 14:11
Cykel AI (LSE: CYK) is a Main Market listed company which offers an AI agent platform that enables businesses to automate tasks through the use of specialised digital workers for sales, recruitment and research. The board is pleased to announce a new strategic fundraising and amendments to the previously announced treasury reserve (as announced on 28 May 2025).
Fundraise with Strategic Investor
Cykel AI's current projects relate to AI agents. The Company has launched Lucy, Eve and Samson in 2025 and continues to grow the user base for these agent products. The Company intends to expand the capabilities of the AI agents on offer as well as continue to invest in the existing portfolio.
To ensure that Cykel AI is well placed to execute its projects, the Company has agreed a £2.8m gross fundraise via a subscription for pre-paid warrants (the "Fundraise") by a group of strategic investors including DeFi Development Corp (the "Investors") into the Company.
In connection with the Fundraise, the Company has conditionally agreed to issue pre paid warrants over 2,333,333,333 ordinary shares of £0.01 in the capital of the Company ("Ordinary Share") with a term of five years to the Investors, with an exercise price of £0.0012 per Ordinary Share (the "Pre-Paid Warrants").
The Pre-Paid Warrants are only exercisable to the extent that the Investors (and any person that may be acing in concert with them) does not, as a result of any exercise in full or in part of the Pre-Paid Warrants, acquire an interest in more than 29.99% of the Company's issued Ordinary Share capital at any time.
The issue of the Pre-Paid Warrants is subject to, inter alia, approval by shareholders to authorise the directors of the Company to allot and issue the Ordinary Shares and to restucture the share capital of the Company so as to (a) split each existing ordinary share of £0.01 into one ordinary share of £0.001 and one deferred share of £0.009 and (b) consolidate 100 ordinary shares of £0.001 into one new ordinary share of £0.10 ("New Ordinary Share") (together being the "Share Restructure"). The Share Restructure will result in there being Pre-Paid Warrants over 23,333,333 New Ordinary Shares exercisable at £0.12 per share.
The Pre-Paid Warrants shall not capable of exercise until, among other conditions, the publication by the Company of a prospectus and shareholder approvals.
Investor Warrants
As part of the Fundraise, and conditional on shareholder approval, the Investors will also be issued with 23,333,333 cash warrants over New Ordinary Shares (the "Investor Warrants") with a term of five years and an exercise price per share at a 10% premium to the price per share in the proposed future fundraising referred to below (the "Exercise Price").
The Investor Warrants will only be convertible to the extent that the Investors and persons that may be acting in concert with them do not, as a result, acquire
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