REG - Cykel AI PLC - Further re warrants

Cykel AIAnnouncement

04/12/2025 07:00

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RNS Number : 1455K  Cykel AI PLC  04 December 2025

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
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4 December 2025
Cykel AI PLC

("Cykel AI" or the "Company")

 

Further re Warrants

 

Cykel AI PLC (LSE:CYK) announces the following with respect to the warrants,
full details of which are set out in the Company's announcement of 28 August
2025.

 

Warrants cancellation

 

The Company announces that it has agreed to the cancellation of 5,000,000
Pre-Paid and Investor Warrants (together, the "Warrants").  This will result
in the repayment of the deposit already paid for the Pre-Paid Warrants (less a
contribution to transaction costs) to the cancelling holders in accordance
with the terms of the Warrants.  Following this cancellation, the Company has
41,666,667 Warrants outstanding.

 

Warrants extension details

 

Under the existing terms, Warrants are not capable of being exercised until
certain conditions which are detailed in the 28 August 2025 announcement have
been satisfied and would have expired if such conditions were not satisfied by
30 November 2025.  The Company and the remaining warrant holders, including
DeFi Development Corp, have agreed to extend the period within which these
conditions may be satisfied to 1 June 2026.  Accordingly, the Warrants will
only become exercisable once the relevant conditions have been fulfilled on or
before 1 June 2026.

 

If the conditions have not been satisfied by 1 June 2026, the Warrants will
expire and be cancelled and the deposit for the Pre-Paid Warrants will be
repaid to the relevant investors (less pre‑agreed contributions to
transaction costs).

 

All other terms of the Warrants remain unchanged.

 

Pre-Paid Warrants and Investor Warrants have the meanings given to them in the
announcement published on 28 August 2025.

 

 

For further information:

 

 Cykel AI plc  

 Michael Chan          investors@cykel.ai  

 CEO

 

 First Sentinel (Financial Adviser)  

 Brian Stockbridge                           brian@first-sentinel.com (mailto:brian@first-sentinel.com)              +44 (0) 7858 888 007

                                               

 Fortified Securities (Broker)  
 Guy Wheatley                                                                                                        +44 (0) 7493 989014

 

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