Shares in Sundae Bar Plc (AIM:SBAR) jumped 24% after it announced it had introduced a bitcoin treasury policy and launched a retail share offer to raise about £500,000.
A popular move in the microcap sphere, the approach sees companies bring in new investment to buy the cryptocurrency as a long-term store of value.
Sundae Bar said the plan is to preserve capital value while scaling its artificial intelligence platform.
Specifically, the AIM-listed company, which is developing a marketplace connecting AI agent developers with businesses, said it now considers bitcoin a potential store of value and hedge against inflation.
The new policy, adopted on Monday, allows Sundae Bar to allocate some of its treasury assets into bitcoin while maintaining its operational focus.
Jill Kenney, chief executive, said the move balanced "financial innovation" with "governance and risk management" and would support the group’s long-term flexibility. The policy follows the successful beta launch of its sundae_bar platform.
The bitcoin strategy will be supported by proceeds from a new retail share offer through the Winterflood Retail Access Platform. Sundae Bar plans to issue around 4.5 million shares at 11 pence each. The offer may be increased at the board’s discretion if demand is strong.
This latest capital raise comes after a £2 million fundraising linked to the company’s AIM listing, which the board said would fund operations and development for at least 12 months.
The new retail offer is intended to build a cash buffer and support bitcoin purchases under the newly adopted policy.
In early trading, the stock was up 2.75p at 14.25p.