Proposed placing to raise £750,000

DeFi Development UK

27/05/2025 07:00

RNS Number : 0558K

CYKEL AI PLC

27 May 2025

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA ("EEA") (OTHER THAN ANY MEMBER STATE OF THE EEA WHERE SECURITIES MAY BE LAWFULLY MARKETED) OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN.

This announcement is not a prospectus and not an offer to sell, or a solicitation of an offer to subscribe for or to acquire securities. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

27 May 2025

 Cykel AI PLC

 ("Cykel AI" or the "Company")

Intention to Raise £750,000 and Launch Bitcoin Treasury Reserve Strategy

Target Completion Date - 6 June 2025

Cykel AI PLC (LSE: CYK) announces its intention to raise gross proceeds of £750,000 by way of a placing of new ordinary shares with institutional and accredited investors (the "Proposed Placing"). The Proposed Placing is expected to close on 6 June 2025, subject to customary regulatory approvals and finalisation of definitive documentation and will be priced at the closing bid price on 6 June. Persons wishing to participate in the Proposed Placing should contact Clear Capital Markets Limited.

A further announcement confirming the closing of the Proposed Placing and the number of Placing Shares to be issued pursuant to the Proposed Placing is expected to be made in due course. 

The Placing Shares will be credited as fully paid and will rank pari passu in all respects with the Company's existing ordinary shares, including the right to receive all future distributions, declared, paid or made in respect of the Ordinary Shares from the date of Admission.

It is expected that Admission will become effective, and dealing in the Placing Shares will commence, at 8.00 a.m. (London time) on or around 16 June 2025.

Use of Proceeds   

Net proceeds will be used to fund ongoing operations and initiate the Company's newly approved Bitcoin ("BTC") Treasury Reserve Strategy, aligning Cykel AI with the growing cohort of public companies integrating digital assets into corporate treasury management.

A Bitcoin treasury reserve strategy has already been adopted by several publicly listed enterprises-including MicroStrategy Inc., Block Inc. (formerly Square), Tesla Inc. and Canada's Hut 8 Mining-each of which has reported balance-sheet diversification benefits, headline yield on idle cash, and, in many cases, heightened market visibility and equity-market outperformance following their initial allocations. Cykel AI intends to leverage the risk-management and accounting benchmarks established by these early adopters while tailoring the programme to the Company's capital-light, high-growth profile.

Ewan Collinge, CEO & Founder of Cykel AI, commented:
  "Just as our agents represent the future of business operations, this initiative positions Cykel alongside other forward-thinking public companies that recognise digital assets as the future of corporate treasury management. Subject to the successful completion of the Proposed Placing, we plan to make our initial BTC allocation immediately after closing on 6 June."

This initiative complements Cykel AI's portfolio of autonomous digital workers-Lucy (recruitment), Samson (research) and Eve (sales)-all powered by their proprietary TaskOS agent infrastructure.

For further information, please contact:

Cykel AI plc
Ewan Collinge
investors@cykel.ai
First Sentinel (Corporate Adviser)
Brian Stockbridge
brian@first-sentinel.com
+44 (0) 7858 888 007
Clear Capital Markets (Broker)
Bob Roberts
+44 (0) 20 3869 6080

 

About Cykel AI

Cykel AI creates autonomous digital workers that perform complex business tasks without human supervision. Its expanding portfolio includes Lucy (recruitment), Samson (research analysis) and Eve (sales), all built on TaskOS-Cykel's proprietary AI agent infrastructure. Cykel AI's digital workers operate alongside human teams, enabling businesses of all sizes to transform their operations at scale.

 www.cykel.ai

 

This Announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "forecasts", "plans", "prepares", "anticipates", "projects", "expects", "intends", "may", "will", "seeks", "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Announcement and include statements regarding the Company's and the Directors' intentions, beliefs or current expectations concerning, amongst other things, the Company's prospects, growth and strategy, planned work at the Company's projects and the expected results of such work, mineral grades and mineral reserve and resource estimates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance, achievements and financial condition may differ materially from those expressed or implied by the forward-looking statements in this Announcement. In addition, even if the Company's results of operations, performance, achievements and financial condition are consistent with the forward-looking statements in this Announcement, those results or developments may not be indicative of results or developments in subsequent periods. Any forward-looking statements that the Company makes in this Announcement speak only as of the date of such statement and (other than in accordance with their legal or regulatory obligations) neither the Company, nor Clear Capital nor any of their respective associates, directors, officers or advisers shall be obliged to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
IOEGZGZKVFNGKZM