Rezolve Ai Shares Soar After $49M Equity Conversion

Dow Jones12-18

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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