Golden Rock Global PLC (LSE:GCG) shares jumped 22% to 3.49p after it confirmed that talks are underway with "a number of parties" regarding a potential reverse takeover acquisition.
The special purpose acquisition company (SPAC) floated in October 2016 to seek opportunities in the fintech sector, led by chairman Ross Andrews and executive director Wei Chen.
Its shares were suspended in November 2021 as it looked to have found a deal, with heads of terms signed over the proposed acquisition of BOLT, a blockchain-based media and decentralised finance ecosystem.
But the shares were readmitted with their tail between their legs in April this year, with the board terminating the deal as it "reluctantly concluded that it would not be possible, for reasons unrelated to the company, to conclude the proposed transaction in the near future".
But it seems that a new deal could be afoot, though Golden Rock said these were still "early stage discussions".
"We feel that the company's current share price is undervalued and would be looking to conclude any acquisition at a valuation that would represent fairer value to shareholders," the company said in today's statement.