Rezolve Ai (NASDAQ: RZLV) enjoyed hearty gains early Friday. The New York-based company, a global leader in AI-powered commerce, today announced that its Board of Directors will seek authority at the Company’s upcoming annual general meeting to be held on June 30, to approve a capital reduction and an agreement with BTIG, a global financial services firm, enabling the Company to repurchase up to $300 million of ordinary shares.
The proposed program reflects the Board’s confidence in Rezolve Ai’s long-term prospects and its belief that the Company’s current public market valuation does not reflect the strength of the business, the progress achieved since listing, or the scale of the opportunity ahead. Under the agreement with BTIG, the Company will repurchase from BTIG ordinary shares that BTIG will acquire in the market, within agreed pricing parameters.
This morning’s news release goes on to say the company intends to commence repurchases as soon as possible following Court approval of the capital reduction, utilizing existing cash reserves.
To support the program over time, the Company is evaluating a range of potential non-dilutive financing alternatives and strategic capital initiatives which, if completed, could enhance Rezolve Ai’s flexibility to utilize the proposed repurchase authority over time, while also supporting other corporate priorities, including strategic M&A, balance sheet optimization and continued investment in growth.
RZLV shares captured 36 cents, or 14.2%, to $2.89.
