Rezolve Ai Shares Soar After $49M Equity Conversion

Dow Jones

2024/12/18

By Sarina Isaacs

Shares of Rezolve Ai jumped after leading investors agreed to a debt-to-equity conversion.

The stock was up 17% at $3.77 shortly after the open, reversing some of its recent losses. For the past year, the stock is down about 66%.

The New York-based purveyor of AI products said its leading investors have agreed to the conversion of $49 million of an outstanding convertible loan note into equity.

The agreement "underscores the confidence of top-tier investors in Rezolve Ai's transformative vision, market-leading technology, and growth potential," the company said.

Rezolve Ai added that it believes the conversion reinforces its financial strength, and is expected to help expand the company's AI-driven offerings.

Write to Sarina Isaacs at sarina.isaacs@wsj.com

(END) Dow Jones Newswires

December 18, 2024 09:49 ET (14:49 GMT)

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For the past year, the stock is down about 66%. \n\n\n  The New York-based purveyor of AI products said its leading investors have agreed to the conversion of $49 million of an outstanding convertible loan note into equity. \n\n\n  The agreement \"underscores the confidence of top-tier investors in Rezolve Ai's transformative vision, market-leading technology, and growth potential,\" the company said. \n\n\n  Rezolve Ai added that it believes the conversion reinforces its financial strength, and is expected to help expand the company's AI-driven offerings. \n\n\n \n\n\n  Write to Sarina Isaacs at sarina.isaacs@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 18, 2024 09:49 ET (14:49 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}