Rezolve Ai announces a $15 million registered offering of 5 million shares and warrants at $3.00 each.
Quiver AI Summary
Rezolve Ai, a leader in AI-driven retail solutions, announced the completion of a definitive agreement to sell 5 million ordinary shares and warrants to purchase an additional 5 million ordinary shares at $3.00 each. The offering, set to close around December 23, 2024, is expected to generate gross proceeds of $15 million, with H.C. Wainwright & Co. serving as the exclusive placement agent. The warrants will be immediately exercisable and have a five-year expiration. This transaction is registered with the SEC under an effective registration statement. Rezolve Ai focuses on enhancing customer engagement and driving revenue through its AI-powered products and partnerships with major companies like Microsoft and Google.
Potential Positives
- Rezolve Ai is expected to raise gross proceeds of $15 million from the sale of 5,000,000 ordinary shares and accompanying warrants, providing significant capital for growth and innovation.
- The warrants are incentivized with an exercise price set at $3.00 per share, which could lead to additional funding if exercised, benefiting future liquidity.
- The offering is structured under a registration statement that is already effective, ensuring regulatory compliance and facilitating investor confidence.
- Collaboration with a reputable placement agent, H.C. Wainwright & Co., enhances the credibility of the offering and may attract more investor interest.
Potential Negatives
- The issuance of 5,000,000 ordinary shares at a seemingly low price of $3.00 per share may dilute existing shareholders' ownership and signal potential financial instability or lack of confidence in the company's stock value.
- The offering requires a volume weighted average price of at least $6.00 for five consecutive trading days for the warrants to be exercised, which may indicate a challenging market outlook for the company's stock performance.
- Relying on external financing through the registered offering may suggest that the company needs immediate capital, which could raise concerns about its financial health and operational viability.
FAQ
What is the latest announcement from Rezolve Ai?
Rezolve Ai announced a registered offering of 5,000,000 ordinary shares and warrants to raise approximately $15 million.
When is the expected closing date for this offering?
The closing of the offering is expected to occur on or about December 23, 2024, pending customary closing conditions.
What is the purchase price per share in the offering?
The purchase price per share, or per pre-funded warrant, is set at $3.00.
Who is acting as the placement agent for the offering?
H.C. Wainwright & Co. is the exclusive placement agent for the offering.
Where can I find the prospectus for the offering?
The prospectus is available on the SEC's website and can also be requested from H.C. Wainwright & Co.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
NEW YORK, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Rezolve Ai (NASDAQ: RZLV) (the “Company), a global leader in AI-driven retail innovation, today announced that it has entered into definitive agreements for the purchase and sale of 5,000,000 of the Company’s ordinary shares (or pre-funded warrants in lieu thereof) and warrants to purchase up to 5,000,000 ordinary shares at a purchase price of $3.00 per share (or per pre-funded warrant in lieu thereof) and accompanying warrant in a registered offering. The warrants will have an exercise price of $3.00 per share, will be exercisable immediately upon issuance and will expire on the earlier of (i) thirty days after the volume weighted average price of the ordinary shares is at or above $6.00 for five consecutive trading days and (ii) five years from the date of issuance. The closing of the offering is expected to occur on or about December 23, 2024, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be $15 million.
The securities described above are being offered pursuant to a registration statement on Form F-1 (File No. 333-283622), which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 19, 2024. The offering is being made only by means of a prospectus forming part of the effective registration statement relating to the offering. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at
placements@hcwco.com
.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Rezolve Ai
Rezolve Ai (NASDAQ: RZLV) is a leader in AI-powered solutions for commerce and retail, focused on transforming customer engagement, streamlining transactions, and driving revenue growth. The company’s Brain Suite of products - Brain Commerce, Brain Checkout, and Brain Assistant - harness the power of AI to provide personalized, frictionless shopping experiences and improve business outcomes for retailers and brands worldwide. Partnering with industry giants like Tether, Microsoft, and Google, Rezolve is pioneering the future of commerce. For more information, visit
www.rezolve.com
.
Media Contact:
Rezolve Ai
Urmee Khan
Global Head of Communications
urmeekhan@rezolve.com
+44 7576 094 040
Investor Relations Contact:
CORE IR
+15162222560
investors@rezolve.com
Forward-Looking Statements
Certain statements in this press release may be forward looking in nature within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These statements include, without limitation, statements regarding the offering and closing of the offering. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. You are cautioned not place undue reliance on these forward-looking statements. None of Rezolve nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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