Tiger Royalties and Investments Announces £325,000 Acquisition of Bixby Technology and £3 Million Fundraising

3 min read | December 20, 2024 07:35 PM AEDT | By Team Kalkine Media

Highlights

  • £325,000 Acquisition: Tiger Royalties to acquire Bixby Technology, focused on investing in and incubating fast-growing technology enterprises.
  • £3 Million Fundraising: A fundraising initiative raising £3 million through the issuance of 3,000,000,000 new Ordinary Shares to support the Company’s growth strategy.
  • New Strategic Shareholders: The fundraising brings new institutional investors, including Premier Miton Group, Zeus Investment Management, and Jupiter Asset Management, as shareholders in the Company.

Tiger Royalties and Investments PLC (LSE:TIR), an AIM-listed investing company, has confirmed the signing of a conditional sale and purchase agreement to acquire Bixby Technology Inc for £325,000. The acquisition is part of a broader strategic plan to expand its portfolio with a focus on technology investments. In addition to the acquisition, Tiger has also raised £3 million through a fundraising initiative, comprising a placing and share subscriptions, to support the Company’s future growth and technology projects.

The acquisition of Bixby Technology will see Toro Consulting Limited, owned by Jonathan Bixby, sell the entire issued share capital of Bixby Technology to Tiger Royalties. As part of the transaction, Toro will also subscribe for £325,000 worth of new Ordinary Shares in Tiger at the fundraising price, and will receive one warrant per share with a 24-month term. This acquisition is conditional on shareholder approval, with Jonathan Bixby joining Tiger’s board as Executive Director, Head of Technology Projects upon completion.

Bixby Technology will focus on identifying and investing in high-growth technology enterprises, offering incubation services, mentorship, and project participation in line with Tiger's existing investment strategy. The company will target emerging technology products and projects, with potential returns structured as equity, securities, memecoins, or digital assets, in addition to the traditional carry interest models.

In tandem with the acquisition, Tiger Royalties has raised £3 million before expenses through a fundraising initiative, offering 3,000,000,000 new Ordinary Shares at 0.1 pence per share. This fundraising is divided into a placing of 2,475,000,000 shares, raising £2.475 million, and 525,000,000 shares via share subscriptions, bringing in £525,000. Notably, the fundraising will result in Premier Miton Group Plc, Zeus Investment Management Ltd, and Jupiter Asset Management Limited becoming shareholders of the Company, further strengthening its shareholder base.

Commenting on the acquisition and fundraising, the Directors of Tiger Royalties expressed their enthusiasm for the future prospects of Bixby Technology and the continued growth of the Company’s technology investments. They highlighted the strategic importance of Bixby’s incubation model, which is expected to provide significant value and drive future returns for shareholders.


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