Shares in Tiger Royalties and Investments Plc (LSE:TIR) doubled in value following the announcement of a strategic acquisition, a £3 million fundraising, and plans to expand its investing policy.
The company will acquire Bixby Technology Inc. for £325,000, conditional on shareholder approval, with Jonathan Bixby set to join the board as executive director and head of technology projects.
Bixby Technology will focus on incubating and investing in high-growth technology ventures, leveraging Tiger’s carried interest model for equity, securities, and digital assets.
In early trading, the stock was changing hands for 0.2p, valuing the business at a microcap £1 million.