Tiger Alpha PLC (LSE:TIR) shares rose 14% to 0.53p after publishing its admission document for a reverse takeover of Potentially Limited, transforming the investment company into a London-listed artificial intelligence platform developer.
Under the deal, Tiger Alpha will acquire Potentially for £10 million in newly issued shares, with the company to be renamed Potentially AI PLC.
Potentially, incorporated in August 2025, is developing a platform designed to help creators, businesses and developers create, protect and monetise content produced with artificial intelligence.
The enlarged group will raise £4.75 million via a placing at 5p per share, plus a proposed retail offer for up to £0.25 million, generating net proceeds of approximately £3.9 million.
The funds will primarily support product development, commercial expansion and working capital through to revenue generation.
Potentially operates under what its backers call the "Collective AI" thesis: the belief that as artificial intelligence models become commoditised infrastructure, value will accrue to the platform layer that allows creators and businesses to direct those models at scale. The company is currently pre-revenue and in beta phase.
The deal requires shareholder approval at a general meeting on 10 July 2026. A concert party of Potentially's founders, including proposed chief architect Sukhveer Sanghera, will hold around 54% of the enlarged group, requiring a Takeover Code Rule 9 waiver.
Independent directors have obtained advice from Grant Thornton and recommend shareholders approve all resolutions.
The company will consolidate shares on a 10:1 basis, reducing the nominal value per share from 0.1 pence to 1 pence. Completion is expected simultaneously with admission, conditional on the fundraise raising at least £2.5 million and no material adverse change in Potentially's business.
