Cykel AI PLC - London-based recruitment platform - Says it ‘notes the significant increase in its share price and the volume of trading in its shares’. The stock rose from 1.44 pence to 2.20p on Tuesday, contributing to an increase of 15% over the past five days. Cykel says that it is in advanced discussions with a strategic investor group, concerning a potential ‘significant equity investment’. This would raise funding to support the development of Cykel’s existing business and support its treasury strategy. The strategy ‘will be revised if the fundraise completes to allow investment in [blockchain platform] Solana and stablecoins’. Company expects this possible investment to be priced ‘at a significant discount’ to the closing price on Friday. Says it will update the market in due course.
Current stock price: 1.60p, down 28% on Wednesday in London
12-month change: down 80%
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