Siebel, Thomas M, CEO of C3.ai, sells $7.6m in stock
LONDON - Acceler8 Ventures Plc (LSE:AC8) announced Tuesday it has terminated its proposed acquisition of Verifyyed, Inc. after failing to reach an agreement with Verifyyed’s board of directors.
The Main Market listed acquisition company said Verifyyed has opted to secure private capital in the United States rather than proceed with the acquisition that was initially announced on December 17, 2024.
Following this development, AC8 has requested that the Financial Conduct Authority lift the suspension of the company’s listing to enable trading of its shares to resume.
The company stated it is currently evaluating alternative acquisition targets, noting an "uptick in interest from various entities that are keen to pursue a London listing."
To support its working capital requirements while pursuing new opportunities, AC8 plans to issue convertible loan notes to new investors. The previously announced convertible loan note issuance from January 23, 2025, which aimed to raise up to £750,000 in connection with the Verifyyed acquisition, will no longer be pursued.
David Williams, Chairman of AC8, was identified as the person responsible for arranging the release of this announcement.
The information was provided in a regulatory press release issued by the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.